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Did You Sell Your Shareholding Too Cheap?

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P&O to return to market as part of £1bn share offer

Previously ...

.... are our institutions rolling over too easily?

... Spanish corporate raiders have snapped up some of Britain's largest companies on a spending spree that has included £9bn for Abbey National, the bank, £17.7bn for O2, the mobile phone network, and last week £10bn for BAA, the owner of the UK's biggest airports.


In recent months, take-overs of blue chip UK businesses have included BOC, bought by Linde of Germany for £8.2bn, P&O, sold to Dubai Ports World for £3.9bn, BPB, the plasterboard maker snapped up by Saint-Gobain of France for £3.9bn, Pilkington, the glass maker bought by Nippon Sheet Glass for £2.2bn, and Exel, sold to Deutsche Post for £3.8bn.

( Buy British, Telegraph , 11/06/2006 )

And here is how, if you sold your P&O shares, you were TOTALLY ripped off:

"When DPW issued the Islamic bonds [the proceeds of which were used to buy P&O] they gave a commitment to the bondholders that they would float a portion of the group. The bondholders were also told that they would have the chance to participate in an offering," said the executive.

The really amusing thing is the amount of institutional investors who sold out! Of course, it isn't really their money ... and they do have such nice M&A advisory friends ...


Edited by Sledgehead

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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