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Pin to quick picksLegal & General Share News (LGEN)

Share Price Information for Legal & General (LGEN)

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Share Price: 240.90
Bid: 240.70
Ask: 240.90
Change: 0.00 (0.00%)
Spread: 0.20 (0.083%)
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Dana Petroleum Hasn't Convinced Holders Better Bid Exists-Sources

Wed, 28th Jul 2010 18:46

By Sarah Kent Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Dana Petroleum PLC's (DNX.LN) chief executive Thomas Cross has so far failed to convince shareholders to hold out for a better offer than the 1,800 pence-a-share approach put forward by Korea National Oil Corp., people familiar with the situation told Dow Jones Newswires Wednesday. Cross has been under pressure from shareholders to accept KNOC's offer, which values the company at GBP1.67 billion, a premium of more than 60% to the closing price before the offer was first reported. On Friday Dana recommended shareholders take no action after receiving KNOC's indicative bid, citing concerns over the Korean company's financing and some "critical preconditions." The conditions included Dana agreeing not to solicit any third-party offers for a four-week period following the start of due diligence and agreeing to allow KNOC to match any competing offer. But Cross's meetings with key investors Tuesday and Wednesday have done nothing to persuade them that the concerns are deal-breakers, or that there is a another feasible deal in the pipeline, the people familiar with the situation said. Dana's top shareholders include Schroders PLC (SDR.LN),which has a 13% stake, Blackrock Inc. (BLK), which has a 5% interest in the company, and Legal & General Group PLC (LGEN.LN) with 4.23%. "I understand that the meetings did not go well and shareholders remain convinced that 1,800 pence-a-share is fair value for the company," said one shareholder, who did not attend the meetings. Dana declined to comment on the meetings. Shares in Dana have jumped since the company received KNOC's initial 1,700 pence-a-share indicative approach June 17. They reached a 52-week high of 1,728 pence after KNOC revised its offer, which remains conditional on the Korean company gaining access to Dana's books and a recommendation from Dana's board. -By Sarah Kent, Dow Jones Newswires; +44 207 842 9376; sarah.kent@dowjones.com (Marietta Cauchi contributed to this article.) (END) Dow Jones Newswires July 28, 2010 13:46 ET (17:46 GMT)
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LONDON BRIEFING: UK insurers report mixed results and change chairs

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Legal & General invests in investment advisory firm ImpactA Global

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UK earnings, trading statements calendar - next 7 days

Thursday 2 March 
Alfa Financial Software Holdings PLCFull Year Results
Apax Global Alpha LtdFull Year Results
Beazley PLCFull Year Results
Brooks Macdonald Group PLCHalf Year Results
Cairn Homes PLCFull Year Results
Capita PLCFull Year Results
Capital & Regional PLCFull Year Results
Coats Group PLCFull Year Results
CRH PLCFull Year Results
Flutter Entertainment PLCFull Year Results
Funding Circle Holdings PLCFull Year Results
Grafton Group PLCFull Year Results
Haleon PLCFull Year Results
Hunting PLCFull Year Results
ITV PLCFull Year Results
London Stock Exchange Group PLCFull Year Results
Melrose Industries PLCFull Year Results
Metro Bank PLCFull Year Results
National Express Group PLCFull Year Results
Pantheon Infrastructure PLCFull Year Results
PPHE Hotel Group LtdFull Year Results
Schroder AsiaPacific Fund PLCFull Year Results
Schroders PLCFull Year Results
Spire Healthcare Group PLCFull Year Results
Taylor Wimpey PLCFull Year Results
Tritax Big Box REIT PLCFull Year Results
Tyman PLCFull Year Results
Vesuvius PLCFull Year Results
Friday 3 March 
Avation PLCHalf Year Results
Faron Pharmaceuticals LtdFull Year Results
IMI PLCFull Year Results
Pacific Horizon Investment Trust PLCHalf Year Results
Pearson PLCFull Year Results
Rightmove PLCFull Year Results
Monday 6 March 
Amte Power PLCHalf Year Results
BATM Advanced Communications LtdFull Year Results
Craneware PLCHalf Year Results
Murray International Trust PLCFull Year Results (TBC)
Seeing Machines LtdHalf Year Results
Tuesday 7 March 
Ashtead Group PLCQ3 Results
Bank of Ireland Group PLCFull Year Results
Dotdigital Group PLCHalf Year Results
Elementis PLCFull Year Results
Ferguson PLC Half Year Results
Foxtons Group PLCFull Year Results
Fresnillo PLCFull Year Results
Greggs PLCFull Year Results
IWG PLCFull Year Results
Johnson Service Group PLCFull Year Results
Just Group PLCFull Year Results
Keller Group PLCFull Year Results
Origin Enterprises PLCHalf Year Results
Reach PLCFull Year Results
Revolution Bars Group PLCHalf Year Results
STV Group PLCFull Year Results
Tremor International LtdFull Year Results
Wednesday 8 March 
Admiral Group PLCFull Year Results
Bakkavor Group PLCFull Year Results
Breedon Group PLCFull Year Results
CLS Holdings PLCFull Year Results
Darktrace PLCHalf Year Results
Galliford Try Holdings PLCHalf Year Results
Headlam Group PLCFull Year Results
Hill & Smith PLCFull Year Results
Hiscox LtdFull Year Results
Ibstock PLCFull Year Results
IP Group PLCFull Year Results
Legal & General Group PLCFull Year Results
musicMagpie PLCFull Year Results
Netcall PLCHalf Year Results
Quilter PLCFull Year Results
Restaurant Group PLCFull Year Results
SIG PLCFull Year Results
Somero Enterprises IncFull Year Results
Spirent Communications PLCFull Year Results
TClarke PLCFull Year Results
TT Electronics PLCFull Year Results
Tullow Oil PLCFull Year Results
  
Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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Berenberg downgrades L&G and M&G to 'hold'

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