Monday, September 15, 2008

Paragoing…..You’d have thought they’d have snap their hands off!

Paragon rejects offer, ends talks

LONDON (SHARECAST) - Buy-to-let mortgage specialist Paragon said it has terminated all current discussions about a possible takeover of the company, having rejected a 125p per share cash offer.

Posted by whostolemyendowment @ 08:14 PM (469 views)
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5 thoughts on “Paragoing…..You’d have thought they’d have snap their hands off!

  • “The company’s shares closed down 14.7% at 81p on Monday. ”

    Paragone.

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  • Snippet from FT on this: “Paragon, which was advised by UBS, said its board received “a proposal in relation to a possible offer for the company at a price of 125p per share in cash, which the board does not consider to be acceptable”.

    When Paragon rejected the proposal, Bridgepoint was still doing due diligence and had not made an offer, while Blackstone had already walked away weeks ago, according to people close to the auction. ”

    See, it is only so long you can convince someone that it is a Chocolate Mousse!!!

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  • Like the sellers who can,t adjust their expectations, another crock banks thinks “We’re worth more than the buyers are offering”

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  • planning4acrash says:

    They are not used to having to deal with free market economics. Fine, let em be bought for pennies on the pound. Problem is, who will buy them? UK PLC, off shore emirate and Chinese communist off shore bargain basement. Phah, for a reminder of how great our nation once was, go to a second hand store and see the old products, all made in blighty, all still in great condition.

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  • Bugger me, if Damien hurst can raise £70million in a day, surely someone will buy these struggling banks !

    Maybe not!

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