Monday, Nov 26, 2007
Beggars can't be choosers
BBC: Virgin's Rock bid 'to be blocked'
A main investor in troubled lender Northern Rock says that it will block a bid for the bank from Richard Branson's Virgin Group because it is too low.
Posted by george monsoon @ 04:05 PM (1064 views) Add Comment
12 Comments
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1. handle_it said...
Rab Capital, as far as know has just jumped on these shares. It's all gone tits up and now he's moaning that AN offer isn't good enough ! As far as I can see he's lucky that the shares he "speculatively acquired" are worth anything at all.....Unbelievable !
2. inbreda said...
All that remains is for RAB to insist on huge profits, which the government will have to pay, otherwise NR will collapse meaning ALL tax payers money is lost.
It's a game of chicken!
3. paul said...
Oh dear. The BBC yesterday said that "Virgin snaps up Northern Rock".
They are such muppets.
4. daft boy said...
NR will be nationalised. This has been the game plan since September.
5. bidin'matime said...
Daft Boy - nationalisation is the government's worst nightmare - it would make them responsible for sacking employees 'oop north' in order to cut costs, or leave them with a permanent 'kick me' sign on their backs for when they go into the next election. They want rid of it asap.
6. Landedgentry said...
Shows 'New labours' business acumen.
Del boy could flog it.
7. Omg said...
The shares are worthless. Why not cause trouble and try to inlfate offers? What have RAB got to lose?
I cant see that anything else is a sensible course of action for shareholders.
8. wdbeast said...
The Virgin boys are cute, NR will be theirs by the weekend.
Good luck to them.
Nobody else was willing to make this kind of offer, hence the massive share price increase today!!!
9. the northerner living in oz said...
If the Virgin offer is true
Then the northern rocks share holder should accept the offer.
it is not an ideal offer but beggers can not be choosers
a few pence per share is better then nothing
10. wiltshire said...
How sweet that vampires like RAB Capital might lose out big time in this deal. The whole venture capital etc business needs a good kicking, the and their ilk have had it too good for too long and it's about time they got their fingers burnt. May excrement rain down on the lot of them for a few years.
11. inbreda said...
interesting to note though that the hedge funds that have been making so much money providing credit for the mortgage market are now making money by shorting house prices. As I understand it this will exaggerate the problem many times.
12. Rick62 said...
I can't understand what the shareholders are complaining about, it looks like a great offer for them, far better than I would have expected - I'm even thinking about buying some shares if the offer looks like being serious.