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Not surprised by that as a bid at around 60/70p would succeed in these troubled times. Remember that properties in the Marston portfolio are shown in the Balance Sheet at "lower of cost or realisable value". Not sure if the company has ever declared in a note a realisable value for the portfolio. Long term it could be attractive for a cashed up property developer.
Really?
Sort of good news that our beer is selling well. Lets hope shelves get refilled soon
Down to the Chinese trent and another 6 trillion of the yanks before we see pubs open.no beer in supermarkets
It was the lead up to the crash and it's inherent causes following the end of WW1. Greed in essence. Banks became Villians and to some extent still do. Joe Public is more knowledgeable and so are Banks. Hoover failed to act and Roosevelt did meanwhile Germany went through an economic miracle with the Rise of the 3rd Reich. The rest is history.
As a Finance guy I worked under 40 years ago would say "History repeats Itself".
Wigwammer you are right States have acted quicker but the eventual cost is going to be Astronomic....UK's WW2 debt which at the end of the War amounted to 200% of GDP, was only completely discharged in 2006, some 60 years after the end of hostilities. A sobering thought for the future generations.
Indeed.
Fairdealer - in fairness, the 1929 crash did not see a policy response as immediate and on a scale to this one. Yes, people can sit in cash - but inflation may become an issue at some point - even cash has risks. ATB
@ fairdealer.
Yes, ive. Had a read through it. An interesting read. Watch and wait time i think.
Trent fully understand your and others view, however it must be remembered there are Holders who have seen an opportunity these last 2 weeks, at current levels and below. There are also financially stressed PI's who have little choice. Don't forget Institutions who may have difficult choices where Investments are involved. We are in very uncharted waters.
Investors would do well to read the way the 1929 crash evolved and it's effects on not just personal wealth but Corporate. It is quite frightening.
@ Fairdealer.
If the report is accurate, then your calculations may not be too wide of the mark.
But I'd be unwilling to sell my holding for such a derisory amount.
It is a perfect opportunity for a Predator(Asset Breaker) to move in with disclosed NAV of 74p even though that figure is likely to be revised downwards following the current pandemonium which is creating uncertainty on Property values. Agents are predicting a 20% devaluation, which up to 50p would still give an Asset Breaker a decent profit.
Last bit
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Business
Market: Rentokil investors take a bath as Marston's jumps on takeover rumours
MARK SHAPLAND
3 days ago
Click to follow
The Evening Standard
Marston’s shares were flying amid rumours potential suitors are moving to snap up the pubs and brewery firm
Marston’s shares were flying amid rumours potential suitors are moving to snap up the pubs and brewery firm ( Getty Images )
Pest control seller Rentokil was today forced into an embarrassing U-turn after just last month the firm said sales would be given a boost by coronavirus.
The firm — which sells rodent killer, hand sanitiser and deep clean services — had expected a strong year but now that many countries are in lockdown and offices, restaurants and hotels are closed it has been forced to backtrack.
Rentokil said: “Within the last 10 days the impact on our businesses has significantly increased. Covid-19 has affected the majority of the key countries in our group. We are withdrawing our previous guidance for 2020.”
Rentokil has also decided against paying a 2019 dividend and suspended merger and acquisition plans in a bid to save £500 million.
Shares were down 46p at 324p.
But Rentokil was only a handful of fallers as the FTSE 100 climbed 213.78 points at 5659.79, boosted by a whopping $2 trillion US aid package signed off by the Senate and the White House last night.
On the FTSE 250 merger and acquisition talk dominated proceedings.
Shares in Marston’s were flying amid rumours potential suitors are moving to snap up the pubs and brewery firm.
Marston’s results have been poor in recent years but traders dismissed those concerns as buyers would only be interested in its property assets.
The group owns six breweries, 1700 pubs, including Pitcher & Piano, and a hotel chain called Marston’s Inns.
Any views on this?
Sorry its all out of sequence but heres the top bit.
On the FTSE 250 merger and acquisition talk dominated proceedings.
Shares in Marston’s were flying amid rumours potential suitors are moving to snap up the pubs and brewery firm.
There's talk of a potental takeover on FT online. I was only able to copy a bitof it on my phone. Here it is
One bond trader said: “There’s plenty of foreign capital circling the UK for assets and Marston’s has plenty of them. Everyone wants hard assets and cash at the moment. Everything else is still too risky.”
In August last year rival Greene King was bought out in a £2.7 billion deal by CK Noble, the property firm run by Hong Kong’s wealthiest man, Li Ka-shing, while the old Enterprise Inns also fell into private equity hands in 2019.
Marston's shares were up 24% or 8.7p at 40p.