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Weekend papers coverage sets out the usual Peltz playbook, streamline, shed low-performing geographies accelerate integration, reduce headcount, list in US......Peltz will exert pressure on management to get on or get out.

Will be positive for SP in the medium term, but is essentially merely pressing management to do what they intended but faster.

I bought in here on the basis that the US acquisition was a good one, and despite teething problems in integration will SP forward, still believe that, happy to hold for 12/18 months or 600p whichever comes first.

OK got it....

Anybody know what's driving the sharp bounce today?

See this in the FT

https://www.ft.com/content/e99dbc4b-5539-491b-9c4e-6c7bc6367c4d

for those without access, it features the firm bringing the Delaware case which has spent $58m to find claimants. IMV it might be better for GSK to bite the bullet and negotiate a settlement even though one estimate is $ 3.5bill. That is LESS than the fall in value the news broke last week.

No, last three RNS's detail shares credited to directors by incentive schemes, some of which have been sold to meet tax liabilities, the rest retained.

Hi Hammer, I'll defer my reply to your post for six months.....(by which time My beloved NUFC may have Jarrod Bowen on their books!!!)

Interesting that today Amplats and Kumba(the bits both BHP and AAL want to hive off) are getting caned in the markets Kumba down 6% today and Amplats down 15% in a few days , will filter through to AAL price in a few days.....

Cashed out here last night just before the close and bought into BHP this AM. AAL have put themselves in a tricky situation, they now have to pull off most of a set of actions they had previously dismissed as difficult , or renege on a commitment to streamline the Co.. In either case the AAL board look naive at best , incompetent at worst. As to BHP , they thought they could snap up some valuable copper rights at a knockdown price , with most of the pressure put on the target co. They too look naive , BUT they are a big beast with a lot of valuable assets, this fiasco might damage the SP in the short term, but it will recover and in one sense their firmness is to be commended. Happy to now hold GlEN and BHP as my miners.

AAL have rejected the latest BHP offer, therefore BHP either go hostile and drop the problem in the laps of AAL shareholders or walk. AAL's board have put themselves in a high risk position, they are committed to a similar course of action to the BHP proposal which they describe as having "disproportionate execution risk". If BHP go hostile I think a significant number of major AAL shareholders will back the deal. Interesting times.

See

https://www.londonstockexchange.com/news-article/BHP/update-on-bhp-offer-for-anglo-american/16491865

Essentially the same as previous offer but with several actions designed to win SA gov approval and a proposal for a further extension. AAL will respond sometime today, feeling is that they will turn it down.

If that is the case expect a sharp fall in AAL SP. AIUI AAL are under severe pressure from major holders to accept the deal, if they don't managerial change will be forced on them.

I hold quite a few here bought at ~1700p level, torn between taking my profits now or waiting a year or two until the AAL plan to divest bears fruit or maybe another player comes along with a knockout offer.

Here is BHP's RNS setting out their position

https://www.londonstockexchange.com/news-article/BHP/increased-and-final-offer-ratio-for-anglo-american/16483497

I shall spend 2 cups of coffee and a couple of hours to absorb both, will/may report back this pm!!

RNS out see

https://www.londonstockexchange.com/news-article/AAL/anglo-american-rejects-further-bhp-proposal/16483481

which AAL have REJECTED as being much the same as previous , complex and taking "18 months" to be effected.SP reacting sharply . BUT, as it stands the offer will NOT SUCCEED. Will BHP go hostile and ask AAL shareholders to decide?

If it's Drahi on the other side of the MS trades he's not actually selling , he is taking some cash for the RIGHT to buy his shares or the RIGHT to take an option on some of his shares. The question is: Are MS acting on "their own BOOK" ie a cheap way to make a profit on a sharp SP rise, or on behalf of another potential buyer who does not , at this stage, wish to show his hand?

That's Morgan Stanley whose holdings have gone from Zero in mid-February to 8.4% as of 10.00 am this morning!

They now hold/control well over £1bill of BT stock......something brewing and it's not coffee

PUT UP OR SHUT UP, is what the acronym means. By 5 pm today BHP must either make their latest offer formal, submit another offer or withdraw. As posted previously that means they cannot bid again for 6 months (but others can).

In other news the price of copper has hit an all-time high , illustrating exactly why BHP have bid. It would signal an acrimonious defeat for BHP to walk away so , on balance , I think they will rejig the bid somewhat and go formal.

Whatever happens the perceived value of AAL has risen sharply as a result of recent events, it WILL fall back if no bid emerges . If that fallback leaves the SP at or about £25 I will sell and deploy my cash elsewhere as AAL's own plans to dismantle itself will be time-consuming cumbersome and fraught with political tensions in SA.

Interesting day in prospect!!!

Expat if they're gambling it is on an SP RIse , CALL options make a profit ONLY when the SP rises.....in my youth, I used to trade options.

Todays RNS from Morgan Stanley sets out a whole raft of contracts they have entered into to buy BT shares or to buy options to buy BT shares at various dates in the future. The total of BT stock covered by these trades has gone up from 7.2 to 8.1 % ie they are worth about £1bill.

It's the sort of thing Draghi did to quietly take control of a chunk of the company (they may be working for him or AN other).

It is broadly positive .

Extract from latest Kantar report

"Ocado was again the fastest growing grocer over the 12 weeks to 12 May, with sales up by 12.4% - well ahead of the total online market, which saw sales increase by 5.4%. The online-only retailer accounts for 1.8% of the grocery market, though this figure rises to 3% in London. Outside of the capital, Ocado saw its strongest growth in the south and east of England where one in twenty households shopped at the retailer in the latest 12 weeks."

Hi fromage, at its simplest level you currently hold shares in two companies, which represent mining assets dotted around the world. What is being proposed by BHP is the merger of some of those assets into one company with various others being "spun off". So if you sit tight you will end up holding more shares in a much enlarged BHP and shares in one or more other independent companies which have been created.

Theoretically, the value of your holdings will STILL represent the same set of assets as before, as, in effect, your BHP shares have paid your AAL shares for the transfer of those assets.

BHP will argue that economies of scale, reduction of duplication " back office" functions, and better management ..will, over time, earn you more as a shareholder in a bigger better BHP than you would earn between holdings in both companies.

In reality it isn't always true that big takeovers lead to greater profits, there are examples where it works and those where it doesn't.

One thing which is true is that today, your assets are worth more than they were a few weeks ago. the takeover bid has done more to raise the AAL price than to reduce the BHP price.

It would be possible for you to take those profits by selling AAL now, and maybe even cashing in your BHP shares which MIGHT fall if the deal is agreed or after it is completed.

As ever the choices are yours (And quite tricky!!!!)

Hope this has helped

Another brief analysis of todays many RNS's

NO significant sales

Schroders now hold £ 240mill more of AAL stock, up to1.4%

Vanguard has increased their position to 4% (about £1.2bill)

Blackrock Still holds 10% worth £3 bill.( though as usual for Blackstock they're significantly hedged).

Morgan Stanley has added about £50 million of stock (but has significant CFD hedges in place).

In summary, nobody is cashing out, significant increase in positions and (from WSJ) GLEN are serious about a bid with support from SA GOV.

Interesting Weekend in store and definite news by WED.