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....simply justify the merger. Nothing really surprising and the merged outfit will save a lot on overheads and staff costs. Current SP still way below revised NAV.
A firm hold.
...tiddly buys, which surprises me, but I won't complain about today's 5% rise. These are still way down on what I paid but really thought the big boys were buyers. They will be before the eventual take-out.
Six times more buys than sells yet the share price goes down, is it only me that finds this somewhat puzzling? There has definitely been interest in the past from US buyers about obtaining the Covent Garden estate, I’m also surprised that the Norwegian Investment Fund hasn’t shown an interest in the Soho estate, as they own most of Regent Street. I’m not a professional investor but I do know that the West End is booming again.
...nicely to plan. Not long now and then we can sit back and watc our SP take off.
I wouldn't be surprised if the merged co is not on the end of a bidding war before too long between the Saudis, the Chinese and the USA!
Not surprised by thr reference. Neither should either company be! hopefully they will have the strongest possible case already prepared and approved. They have had long enough.
...might be a good time to top up here.
This merger will be excellent for Capco.
Good programme on BBC 2 on Sunday about the four hundred year history of Covent Garden. Good investment for the long-term.
Loads of institutional investors putting big London blocks on with their agents to sell. I bet Capco will be taking an interest if they are in the right place.
..looks like it has at last turned around. I am looking for £1.80 within 12 months.
A lot of buys today recorded as sells. Gritting my teeth at these prices but think we must be near to end of merger with Shaftsbury and a few smart buyers realise that the merged outfit can only fail long-term if Central London turns into Mogadishu!!!
....I sure mistimed my buy here! I am not too worried though because I am old enough to have lived through the last bout of stagflation. this duolith will survive and flourish given a few years, if only I too am given a few!
There will come a time when the merged outfit's SP will be unmissably low and I shall then buy again. Until then its powder kept dry. GLA and DYOR of course.
4 director buys on Shaftesbury today
True!
Perhaps I'll just wait till they merge
That way you pay double broker's charges and double stamp duty!
Thanks for your response.
I am new at this game!
Perhaps I'll hedge my bets and buy half and half.
I have neither yet.
The two SPs should be tightly linked by the merger, so unless you want to do quibble over fractions of a p, just tuck them away and don't look for at least a year!
Is it better to buy Capco or Shaftesbury shares now ?
Much as we all knew, the deal is on and I expect that this merged outfit will be carved up very largely between the big institutions and fund managers over time with only about 10% remaining in private hands. Even before today's RNS it has been widely tipped as a long term 'must have' for any serious portfolio and a real contender for various countries' Sovereign Wealth Funds. They are actually down on what they were before the possible bid but I am not in the least worried about that. To me its a no-brainer. But of course DYOR.
I am not an expert investor, so I don’t comment with any great knowledge but what I do know is that business in Covent Garden is booming again, try finding a parking space there in the evening! The Norwegian Investment Bank already owns most of Regent Street, so Carnaby Street would make a good fit if the merger with Shaftesbury goes ahead. Covent Garden could also be a takeover target with the increased business and rentals, I have a small investment which I intend to hold for the foreseeable future.
5 PROMISING TAKEOVER CANDIDATES IN BRITAIN
https://www.undervalued-shares.com/weekly-dispatches/5-promising-takeover-candidates-in-britain/aff/9/
...on takeovers but I think today's RNS is good news because it indicates the two outfits are still agreeing and are happy at this point to keep going. Market seems to agree.
You are right but look whatthe savings will be on only having one lot of admin instead of two. After some agonising,I have taken some on a medium term view.
Share price of CAPC and the merger partner both go down.Why? Because the investment bankers will take stupid amounts of fees out of each of them.And the directors of both companies are too stupid ( or in the same trough) to find a way to stop the truffle gravy train…..
Receipt of £105 million of deferred consideration from sale of Earls Court
Capco confirms that it has received £105 million of deferred cash consideration from the Earls Court sale. This amount represents a scheduled payment following the sale announced in November 2019. The final payment of £15 million is due to be received in November 2021.
This receipt further enhances Capco's financial flexibility and liquidity. Proceeds will be used to reduce borrowings under the Covent Garden revolving credit facility.
Based on Capco's net debt and the independent valuation of its property portfolio as at 30 June 2020, and taking into account the proceeds of the sale of the Wellington Block (£76.5 million), payments in respect of Shaftesbury shares acquired in August and November 2020 (£153 million in total) and the proceeds of the exchangeable bond issue announced on 19 November 2020 (£275 million), on a pro forma basis Capco's net debt would be approximately £700 million representing a net debt to gross assets ratio of 25 per cent (30 June 2020: 26 per cent). On the same basis, net debt for Covent Garden would be approximately £475 million and the loan to value ratio would be 23 per cent (30 June 2020: 36 per cent).