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But there is a message to the shareholders , particularly the ii's, 'tell the BOD to engage with us and put a deal together and we all win'. Think we are now in play as others will think , better jump in now if we are serious.
Well certainly looks like we are hot property at the moment.
2 offers in 6 months from different companies at vastly different prices.
To be honest I'm not sure how a share offer would have worked given it would be shares in a US company.
I'd rather just have the cash.
But that being said, clearly this is a well thought after company. All my current holdings of this share have been top sliced anyway so I can afford to wait as literally any price is a profit for me.
Will be interesting to see at what level the dividend is reinstated (when it does).
200k buy 15.00
Fell for it - b a s t a r d s - i should have known better
sky news needs investigation for a false 200p story
cant see a revised offer from Innospec., it say they not interested now?>As a result of the rejection, Innospec is no longer currently considering this acquisition.
Now we wait for a revised offer or another suitor
ELM waiting for more?
Press Speculation Regarding Possible Offer for Elementis plc (“Elementis221;) GlobeNewswire - Apr 20 09:22:40.125 EDT Alert hits:Key Symbols: NASDAQ-NMS:IOSP ENGLEWOOD, Colo., April 20, 2021 (GLOBE NEWSWIRE) -- Innospec Inc. (“InnospecR21;), a global speciality chemicals company, notes the recent speculation with regard to a potential offer for Elementis plc. On 31 March 2021, an approach was made by Innospec to the Board of Elementis. This approach was rejected by the Board of Elementis on 9th April 2021 and Innospec subsequently ceased active consideration on 15th April 2021. The approach sought the support of the Elementis Board for a possible all share offer of 160p per Elementis share with a maximum 50% cash alternative with mix and match facility. As a result of the rejection, Innospec is no longer currently considering this acquisition. Innospec believes the combination of the companies would have created benefits for both sets of shareholders given the compelling strategic fit. The Proposal would have enabled Elementis shareholders to share in future value creation substantially beyond the headline offer price through significant anticipated synergies and an expected re-rating of the Elementis business to Innospec’s materially higher valuation multiple. Innospec remains highly focused on delivering value for its own shareholders. Innospec will only pursue transactions which meet its investment criteria and where it is appropriate to do so, taking into account the importance of maintaining a prudent capital structure under current economic conditions. This is a statement to which Rule 2.8 of the Code applies.
what a load of balls
rns out
The Elementis BoD have a huge level of confidence in what they have done, what they can do in the future and where they can take the business. With that in mind, I feel that they will not be keen on the bid. I'm also confident that they can take the SP back towards the £3 from the past as they are now very cash generative and we have got back to where we are (post C19) without the resumption of the divi, before the oil price increase to bring the Energy Division back to profit and without people using deodorant!
Shares in Elementis PLC (LON:ELM) shot up 19% to 160.9p on Tuesday morning after Sky News reported US firm Innospec has been sniffing around.
Sky News said Elementis, which last year turned down a low-ball 117p per share offer from US rival, Minerals Technologies (NYSE:MTX), has received a bid approach that values the company at more than £1bn.
Sky’s sources suggested that a cash plus shares offer worth more than 200p a share is on the table.
Elementis, a major producer of talc and chromium that makes most of its revenues from the personal care and coatings industries, is currently valued at £788mln by the market after this morning’s share price surge
https://www.proactiveinvestors.co.uk/companies/news/947082/elementis-back-in-play-on-reports-of-bid-approach-from-innospec-947082.html
well Elementis better say something or all these news channels will look like fools soon
theres 2 1 codes appeared, rns logged maybe
From December 2020 in Shares Magazine
ELEMENTIS ‘WORTH 200P PER SHARE’
Expanding on why the latest bid still undervalues the firm, Elementis pointed to the fact it is the owner of ‘differentiated resources with high scarcity value’, including the world’s only commercially viable high-quality rheology grade hectorite mine.
It added that as a result of the significant refocusing of the group, over 80% of earnings are now from the premium performance additives businesses of Personal Care, Coatings and Talc, which benefit from ‘fundamentally attractive’ margins and GDP growth.
Elementis said its Personal Care, Coatings and Talc businesses have achieved an average adjusted operating profit margin of around 15% over the last three years, and that its medium term group adjusted operating profit margin objective is 17%
It argued that specialty chemicals companies with margins in the range of 14% to 17% currently trade at 17-19x 2021 EV/EBITA, and that applying this range to average operating profit for the Personal Care, Coatings and Talc businesses over the last three years implied a valuation of 163p to 190p per Elementis share.
The company added that this excluded its Chromium business, which could be valued at an additional 35p per share, implying a group valuation of 200p or more per share as the firm ‘delivers on its medium term objectives.’
I got in around 156p
If the americans wake up and announce the approach we could have another 20% rise in the tank here
A good recovery play in any event so I have increased my holding - we shall see how this plays out.
theres been too many takeover offers here to ignore this one i think
no RNS though? and this company has played games with RNS releases about this takeover before
They were always cash generative some years ago and then went into high debt with a big aquis it ion. That was followed by C19.
Been with these guys since the last crash. Was really concerned when there was talk of an offer at 117. I have sold and bought back into my ISA over the years with an expectation of a much higher price. 200 looks more like it.
Been with these guys since the last crash. Was really concerned when there was talk of an offer at 117. I have sold and bought back into my ISA over the years with an expectation of a much higher price. 200 looks more like it.
Just read an article on Shares Magazine that puts the valuation @ 200p. I have not done any deep research on this company but looks like the Management is confident about its business lines. So looks like guys on this board should be happy beavers, given the deep value in the company assets.
================================================
Elementis Management points to the fact it is the owner of ‘differentiated resources with high scarcity value’, including the
world’s only commercially viable high-quality rheology grade hectorite mine. It also highlights the fact over 80% of earnings are now from Personal Care, Coatings and Talc, which benefit from ‘fundamentally attractive’ margins and GDP growth,
with the divisions achieving an average adjusted operating profit margin of around 15% over the last three years, with
its medium term group adjusted operating profit margin objective being 17%.
Elementis also argues that specialty chemicals companies with margins in the range of 14% to 17% currently trade at 17 times to 19 times 2021 EV/EBITA , and that applying this range to average operating profit for the Personal Care, Coatings and Talc businesses over the last three years implies a valuation of 163p to 190p per Elementis share.
The company adds that this excludes its Chromium business, which could be valued at an additional 35p per share,
implying a group valuation of 200p or more per share as the firm ‘delivers on its medium term objectives’.
127p rejected, love to know what the BOD think its worth, has to be anything from 160 to 190 surely.
Is this on a steady recovery now based on trading fundamentals or still affected by the recent offer?