….and still the price keeps rising. I see a buy of £142.6K at £125.90. Does this suggest the offer price will have to be raised in order to complete?
25 Feb '14
There seems to be remarkable little activity on this board, given the sudden appearance of the offer. You will see I posted previously about wondering why the former CEO had continued to buy so many shares when the company produced a thin div and the SP did nothing. A lucky guess for me, as it turns out (a 25% gain) and I can't really see any sign of 3rd party interest. I'd expect to see a bit of comment on the board, but it's quieter than the graveyard. I think I will drop mine - as you say, they are above the offer price.
24 Feb '14
Share price obstinately above the offer. Does anyone have a view why we should expect a higher bid; and from whom?? Or should we take the current price?
27 Jan '14
27 January 2014 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE For immediate release 27 January 2014 Response to Press Speculation London, 27 January, 2014: The Board of F&C Asset Management plc ("F&C" or the "Company") notes the recent press speculation and confirms that it has received an indicative offer from BMO Financial Group ("BMO") of 120 pence in cash per ordinary share (the "Offer Price") for the entire issued and to be issued ordinary share capital of F&C (the "Possible Offer"). In addition, F&C shareholders will be entitled to receive and retain an ordinary course dividend of 2 pence per F&C share for the financial year ended 31 December 2013. F&C and BMO are in advanced discussions about the details of the Possible Offer and the Board of F&C has indicated to BMO that it is likely to recommend a firm offer at the Offer Price. This announcement does not amount to an announcement of a firm intention to make an offer and there can be no certainty that an offer will be made. This announcement has been made with the consent of BMO. In accordance with Rule 2.6(a) of the Code, BMO must, by not later than 5.00 p.m. on 24 February 2014, either announce a firm intention to make an offer for F&C in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel (the "Panel") in accordance with Rule 2.6(c) of the Code. In accordance with Rule 2.10 of the Code, F&C confirms that as at the date of this announcement, it has in issue 581,035,337 shares of 0.1p nominal value each. The International Securities Identification Number (ISIN) of the shares is GB0004658141. In accordance with Rule 30.4 of the Code, a copy of this announcement will be available on F&C's website at www.fandc.com. A further announcement will be made in due course. Enquiries:
9 Aug '13
20,000 a day on average........
Edward Bramson has done plenty of cost cutting, but it didn't move the shares much over the last couple of years. They have moved up and down between the low 90's and low 100's, but the yield was pretty thin - in fact I thought about dumping my shares which came from the de-merger with Friends Prov. EB's share purchases are interesting though. He buys between 10,000 and 50,000 pretty much on a daily basis and when you already own over 114m shares it just looks like he knows what he's doing; I can only think the buys are restricted in size so as not to draw too much attention. Anyway, my guess was that he doesn't buy them just because he likes the company so much, so I bought some more too! They are up 6% since I bought in and look as if they might be on the move. Only a hunch as I'm very much an amateur, but dyor and good luck.
3 Jul '13
Paying its way
Would be a great little share if it paid a decent dividend. 3 and a bit percent just doesn't cut it for an asset manager
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