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Alliance & Leicester In Bid Talks

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http://uk.biz.yahoo.com/080714/214/i35g2.html

Monday July 14, 08:31 AM
Alliance & Leicester gets 299p bid
| | |
LONDON (ShareCast) - Mortage lender Alliance & Leicester has confirmed it is in advanced stage talks over an offer worth 299p per share.
Shareholders will also get an expected interim dividend of 18p per share to take the total offer up to 317p per share, which values A&L in total at about £1.3bn.
Alliance & Leicester shares have slumped recently on worries about higher impairment charges and a sharp slowdown in new lending in the first four months of 2008.
Last week it confirmed the appointment of Alan Gillespie as its new chairman from 8 September. Gillespie has been chairing Ulster Bank (a wholly owned subsidiary of The Royal Bank of Scotland Group) since 2001.
A&L did not reveal the identity of the possible bidder, but said it had made its statement this morning without its consent.

Last Trade: 320.00 p

Trade Time: 8:24AM

Change: 100.75 (45.95%)

how many 'insiders' made money on this boost?

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Stop it!

Even I can't eat this much bear food so early in the day!

A short precis of the link follow -

Exactly. Get someone to "buy" it before it collapses. Can't have another NR, B&B so soon can we.

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Stop it!

Even I can't eat this much bear food so early in the day!

Er, what's bear about a bank takeover at 50% above the previous price?

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B&B doubled in 3 days...

You don't think the banks and the wider market has hit a short term low, do you? I do FWIW.

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Er, what's bear about a bank takeover at 50% above the previous price?

IMO it is a reflection of the degree to which desperation is characterising the marketplace. It is irrational.

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Er, what's bear about a bank takeover at 50% above the previous price?

The fact that it's been cobbled together out of thin air, will be backed in some mysterious and cack hnaded way by the central bankers etc etc

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I have read that a takeover of B&B is also being brokered by the FSA once their rights isuse has been completed.

http://www.forbes.com/afxnewslimited/feeds...afx5208869.html

Looks like this is going to be the solution then. A series of orchestarted takeovers of the old mortgage banks with the old 'big four' leading the field and backed by virtually unlimited liquidity being offered by the BoE on terms that will never be made public. I fully expect NR will eventually be folded into another fiancial entity at an undisclosed cost to the tax payer.

The free market is indeed a wonderous thing!

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IMO it is a reflection of the degree to which desperation is characterising the marketplace. It is irrational.

As I was asking - 'Er, what's bear about a bank takeover at 50% above the previous price?'

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Er, what's bear about a bank takeover at 50% above the previous price?

Absolutely. What's bearish about a troubled UK bank being taken over by a Spanish bank instead of being salvaged by govt/UK taxpayers. Unless of course your spanish or live there.

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So after carefully putting my STR fund into numerous unrelated banks I am going to end up with it all in one bank! (Is there a fuming smilie?)

There is only one bank.

It just has many branches and some great PR.

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As I was asking - 'Er, what's bear about a bank takeover at 50% above the previous price?'

IMO, the fact that a major bank has been in this much trouble in the first place.

Brown must be behind the scenes ranting and raving about "not allowing" another bank to fail just like he won't allow house prices to get out of control. You can also bet he had his Glasgow people trembling in their boots as he ranted about not allowing the by-election to go to the SNP.

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Absolutely. What's bearish about a troubled UK bank being taken over by a Spanish bank instead of being salvaged by govt/UK taxpayers. Unless of course your spanish or live there.

Although I wouldn't want to be a UK employee of A&L or indeed Abbey - Jobs and branches to go.

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Last Trade: 320.00 p

Trade Time: 8:24AM

Change: 100.75 (45.95%)

how many 'insiders' made money on this boost?

The instability should be worrying, when has a company over a billion £ market cap had this kind of jump ?

They have a £1.3Bn market cap (or value of shares X number of shares at the time of writing is £1,304,852,000) so a 40% jump is £386,000,000 increase in company valuation in 10 minutes.

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I think I heard Bloomberg suggesting it was Santander after A&L.

When and if all this credit crunch is over we as a country will end up owning virtually nothing :(

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nope the day traders just got back from dropping the kids off

From £700Million to £1.4 Billion in an hour, hitting +50.52% !!!

This is epic, Santander must be getting worried, they have to pay the price of any shares purchased during an offer period over the offer price, if they are doing a takeover.

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I have read that a takeover of B&B is also being brokered by the FSA once their rights isuse has been completed.

http://www.forbes.com/afxnewslimited/feeds...afx5208869.html

Looks like this is going to be the solution then. A series of orchestarted takeovers of the old mortgage banks with the old 'big four' leading the field and backed by virtually unlimited liquidity being offered by the BoE on terms that will never be made public. I fully expect NR will eventually be folded into another fiancial entity at an undisclosed cost to the tax payer.

The free market is indeed a wonderous thing!

Absolutely spot on. Last man standing. The "de-regulation" of the old building societies to create "competition" was beginning to encroach on the ability of the big boys to make as much money so easily. So they're taking them out of the game. Precisely the same mechanism they used to become the "big four" in the first place.

Abbey

Northern Rock

B&B

A&L

I hope no-one was shorting them :blink:

Edit: Have you noticed how the UK banks/house lenders are being replaced by European and Global banks? They're planning for the next stage in the game.

Edited by Red Kharma

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  • 396 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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