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Well I disagree, a buyback for cancellation would be money well spent
Implication is RYA might force pricing lower for everyone else- price war which not everyone can afford-
The era of big acquisitions in mining caused a lot of indigestion if I recall. Rio/ Alcan one prime example of the larger co grossly overpaying.
BHP should just concentrate on its own knitting, they do not need Anglo, they already overpaid for Oz.
a few thoughts.
a) bhp has not won hearts and minds on this at all- most of its institutions cannot see the merits / logic of this pick and mix approach - bhp has not done its home work on the merits of this at all.
b) why on earth does bhp want debeers? diamonds have had it -they are now being manufactured cheaply- the whole industry is in a slow death
c) reputational risk - bhp has an outstanding track record of investment returns. anglo does not, is cash poor, has some major capex to do, will dilute bhp earnings. bhp is taking a significant risk with its reputation. this is not like bhp/ oz minerals.
d) bhp wants copper assets, we have been informed - ok so why not anto***asta, first quantum minerals etc
e) other than modest corporate hq overlap, where are the synergies with this deal?
f) anglo am board are not going to approve without getting an over the top offer, which bhp if it has any sense is not going to offer- so who is pulling whose plonker here?
message to bhp; its not too late, withdraw honourably, deal was never there anyway, and it will be forgotten about in a few months. bhp does not need anglo am myriad of problems
C'mon guys there is too much cash on the balance sheet, lets shrink the share capital a bit - lets get away from a near 100% focus on new hubs and new aircraft
Conclusion to be drawn from PRU's parsimony is the fact the co cannot afford substantial increases in the payout - which has been paltry for a few years now.
Really? halved in the last year
Possible therefore to see FY24 EPS of around 37p-38p hence still on 5.5x forward.
Good progress on the £2bn operating savings as well.
I think the £10bn buyback is becoming more credible, assuming this happens stock could be nearer 350p ps.
That guy has been the source of almost 100% of the drama around this co from day 1, an absolute nightmare- if the Ukraine govt seize his shareholding then cannot be any worse than having him there
I agree they are a good airline, that is priced in - the issue is the volatile cash level
Yeah but the world is drastically different to 2019 - co's have to hold more cash, the price of debt has rocketed
Whilst I agree in theory, Jet2 has never done a special dividend or share buyback -
A321 Neo are about US$140m each so that explains £220m but reduction is c. £820m
Jet2 own cash has fallen from £2.12bn (30 Sept 23) to £1.3bn - any info as to why?
I like your bullishness however am struggling to share it, because until the prelims are out the whole spectre of the lack of accounts sign off is paramount. The Ukraine govt has been milking this co with all sorts of tricks and wheezes, it is not a situation that has any clarity.
Is there any specific reason why it is up today?
True, dismayed at the response, suppose need to see what happens to that US$125m
Interesting perspective - however my understanding is the case was against Mead Johnson USA- the subsidiary - hence would the jury not have thought the defendants were American
The problem with the board having its hands full argument is it is not plausible - putting the results out and having a few zoom meetings - it will be done in a day maybe two maximum. The legal problems are ongoing and not going to be cleared in a few days anyway.
So what has been achieved here? i) panicking investors and making decisions that will panic s/h ii) draining confidence in the BoD iii) it is not entirely clear if a) FPM are unable to pay due to insufficient cash, provisioning for liabilities or b) unable to pay due to legal sanction.
What is also confusing are ongoing statements about FPM continuing to operate and being unaffected - it appears to be very affected.
Maybe you never know , disappointing, one drama after another this outfit