Ok so the figures sounded OK, but the share price today looks
very temptingly cheap - down to 93p last time I looked, it has
been up there 150p or so, and pays a divi.

So anyone hold these and if you do, what's your views?
I'll dig out the share price chart and paste it up in a mo..

Hi Bunny, been watching these for a while, feel that there is a little more to come on the downside.
Never really thought of them until a 'friend' told me he had made K70 on them when he sold @ 1.20 when he told me they were about 1.70 and he was moaning about the other K50 that would have been in it!!
Not so sure about the 'friend' bit he didn't mention it to me when he bought!!
opto

Hmmm I'm thinking of watching for a short while Opto,if I 'go in' I will
want to get if poss the recently annouced divi, it is too cheap
frankly I feel - don't ask why, just call it gut instinct!
I did quite well with Somerfield about a year ago but haven't
been in food retail since than....

Well one thing for sure, I WILL tell
you when/if I decide to go in and buy, even if it goes wrong on me,
I don't mind looking a tad silly if it comes to it !!
((How can you have a nick-name like stockbunny and possibly worry
about looking silly...I mean it says it all!! )) giggle!!

allright bunny,,recent buyer 1.06,more than happy with that price,would of been more happy now at current levels,but happy all the same,,second time around on this one,sold the first one in feb 1.77,bought for under a quid,took nearly 2 years to make a good profit still.
as for recent buy could see 1.5o soon management not to clever,,booker doing well.i mite go a third time on this having just sold m&s/wlw today i am flush with cash,,looking for another foothold on 1 or more stocks..
ps my dad you to work for MALCOLM WALKER/PETER HINCHCLIFF when they first started out,,when one had just left woolworths claiming to be ill whan he was selling strawberrys on the a55 they gave him the push still he you to tell me he made more money in one day doing that than working 5 days in woolies. walker the talker what a man, my dad you to fit out some stores in the early days...
malcolm is now living in cheshire happy with his new baby COOLTRADER AS FOR HINCHCLIFF HE MADE BIG MONEY RECENTLEY IN MINEING OVER 40 MILLION IN ONE DEAL PROFIT. one of them still owns a house near me.
any how back to the issue in mind yes yes yes big food group.

Yes feel positive towards it, will consider it more next week,
want to sell out MKS first ideally! Well Done Dave you've had a good week!

yer just timed it right,,lucky with m&s,a real bolt out of the blue.its been grim at m&s well before greenbury,,this italian wants to make it another ikea.

as if ones not enough,,,the jewel in the high street is now laughing stock,,roger holmes ,,what a joke allright with electrical goods but marks dont have any,,,says it all.

all bow down to mr green,,a true tailor if ever there was one. any he likes boats ,,,,, do for me......

Been watching this on my charts but have no signal to buy at the moment, it is sort of ready to do a move but I think it may still go down a bit. Will wait a little until it gives more positive signals. RSI is starting to turn and looks oversold but MACD is still low. Has support at .96 so if it reaches that may bounce.

We've been discussing both MTN and BFP on the MTN thread, which was
beginning to get a tad confusing so I've pulled up this thread so we
can separate the two! (After all there's nothing worse then getting your
MTN knickers in a twist over BFP frozen chicken nuggets is there!! LOl)

OK the trading statement wasn't bad not considering the drop in
sales was less then the likes of MKS which also updated this AM.
Reaction so far not bad - EG the price isn't dropping.

I think we got in at the bottom end, as the slight rise in price would indicate.

I have a feeling this will be another slow slog though, but in the right upward direction.

That's my opinion.

Anyone else?

I'm with you SeaWalker but we can sit back with small divi's and
discount card/vouchers in hand and wait a while..

They look stuffed to me but wdik.

have you all got your booker caeds now ?.
myself this my be another 12/18 wait , but we all have a decent price on it so lets go for the ride {bring back walker the talker].

No not yet - but I'm waiting on paper certificate etc so bound to take a while.

I'm pleased to have intro'd Big Food onto the MTN thread but I was getting really confused about discount cards etc. Thanks for re-establishing this thread Stockbunny. Now on to BFP, undervalued and close to but not yet at bottom turn I think.. the TA indicates another drop today and balance of week as trend summary is 3 bullish to 13 bearish indicators (68% chance of a decline). If it hold above 80 pence as it should (by Thursday/Friday if trend is to be believed) then that's the time to add - it has lots of upside at this level and Booker will also see the benefit of a major cost overhaul in H2...not yet fully publicised.

joehargan 1,dont you think greener,grimsey,hoskins are doing a bad job.you need a retail man who knows this field.i would like to see,mike coupe/kevin loosemore given more freedom,in the boardroom.

This is a regular play
Have again gone long at 79p.

I've been looking at this share, but merely because it's fallen.

I can't see the reasoning for buying, just yet, whilst the chart
still looks like this.
If you add in the margin squeeze, which will get worse with Morrisons
trying to compete with Tesco/Asda/Sainsburys, isn't there the possibility
that lack of profit growth may cause a problem with debt servicing in
the future?

Maybe folks are thinking of a takeover, but that shouldn't be the main
criteria for investing in a company.

Melnibone.

Re post 16:I use this share for scalping a decent share(loss for the loss to narrow).Bought at 78.98 earlier today sold for 80.75 although I,m still holding a spread bet.This is only one of a number as I only look for regular profits without in the main parting with any cash.
I have like others read many boards and see that having made a living for 30years out of the markets that I go against the trend,the fact that I do not use charts or any other technicals.

My post wasn't meant to imply any critism, torquay, sorry if
it gave offense.
I hope that you can see by the chart timescale that I was giving
a slightly longer term view than a scalp. :-)

Melnibone.

i feel this may go 70 pence or lower,time for a bottom feed and top up.

Melnibone:You did not offend in anyway,that's the problem with e-mails they can be interupted the wrong way.The point I was making that charts can(or for myself)bog you down(hindsight)they will never give you short-term gains even if the share continues to fall.With longer term views I find that you get the escalator effect and miss regular profits.

Agree with your escalator effect, torquay.

I tend to do my scalping on the more liquid large caps
and use midcaps for swing trades with the trend.

We all have our own methods that suit our own style and
risk level.
Glad you make money with yours. That's what it's all about.

Melnibone.

I'm the same,Melnibone 99% of my trades are ftse100,with these I like to obviously scalp but at the same time quite prepared to take onboard providing their divi is at least B/Society return.Might as well park and pound cost average a share that has potential to give a profit as well as the divi.
The banks especially(AL. HBOS)have 7-12p movements giving a 4-9p scalp

Torquay

For you guys (press mention in Today's Independent Newspaper) :

Investment Column: Steer clear of the Big Food Group

Edited by Stephen Foley
13 July 2004


If only mum would go back to Iceland. The frozen food chain, owned by Big Food Group, has been suffering as customers desert its frumpy old stores. While the management has been focused on turning some of its best sites into bright new convenience stores selling fresh fruit, veg and sandwiches, the older shops - on the evidence of yesterday's trading update - are fast going to rack and ruin.

The company has two answers: speed up the programme of refits; and replace the Iceland boss with a new man poached from Asda, with a brief to improve customer service standards across the 748 stores, not just the 40 refitted ones.

The company has two problems: it does not generate so much cash that speeding up the refits will be a financial breeze; and bigger competitors such as Tesco are steaming into the convenience market much faster than Iceland is managing. With Iceland sales down 1.7 per cent in the past three months, compared with the same period last year, the combative chief executive of BFG is going to struggle to turn the sales performance around any time soon.

And that is just Iceland. While the City's gaze has been fixed in horror there, the other main business - the cash and carry chain Booker - is starting to look troubled, too. Sales (excluding tobacco) are down 1.8 per cent, despite a push to link up with independent convenience stores, helping them rebrand as Premier shops and becoming their exclusive wholesaler. Booker's sales to caterers have been particularly poor and the company yesterday added Euro 2004 to the list of reasons, or excuses, which previously included the weather and the late Easter.

The Woodward food service business is growing fast, but it is still only a tiny part of BFG, and there will be no respite for the shares at least until sales growth is restored at Iceland. They have plunged since we said "sell" at 135p in April and now look cheap as a multiple of likely earnings this year. But earnings forecasts were cut again yesterday, and the dividend yield of 3.8 per cent doesn't suggest the stock is noticeably undervalued. Avoid.

Not bad today - it's the only rising share I have in a list of 21
so far today - time will tell I think...bit like the weather!

Time to bail - I agree with SueHelen. This is going to fall further and break the current lower resistance points - I wouldn't get back in unless it drops to 70 p or under. TA is very negative.

Sue Hellen is a very respected researcher in my book.

I bailed bar a 100 shares after the results for 1H.

Make you own mind up, but I agree with the above two comments.

Well I'll stay in for now - not because I think I know any better then
those who have posted above because I know I don't, I'll happily admit that.
I'll stay in because I sometimes invest on a contray basis/against the trend,
if my instincts tell me it may be worth doing, plus if needs be I can hold
them for as long as necessary and (importantly)my exposure financially is not huge in this stock. If it goes 'belly-up' which I don't believe it will, but
if it does, I can write it off - I wont enjoy doing so..but it can be done.
In short - what you say makes perfect logical sense, but I don't always
trade on logic alone.
(However anyone else reading this, follow the guys above not me!)

Questor (today):-

Best to give perishing Big Food Group the cold shoulder

For investors, BFG has proved not so much of a Big Friendly Giant, more a Big Financial Grind. The acronym stands for Big Food Group, and the company owns the Iceland and Booker chains.



Bill Grimsey, who has been in charge at the company for three years, took on a mammoth task when he started at the business, and there's not much evidence that he's anywhere near the end of it. The company was chronically underinvested, and even though he's having some success refurbishing the Iceland stores, it's a race against time, because the ones that aren't refurbished are continuing to decline at a massive rate.

Iceland is also having problems in the competitive environment, with the takeover of Safeway by Morrisons and Sainsbury's coming under new management. These prompted yet another bad trading statement from the company earlier this week, which many interpreted as a profits warning. This is an occurrence with which shareholders are becoming familiar.

Booker is also struggling, as the figures this week showed. Analysts moved to trim their forecasts and few could see a bright spot at the end of the tunnel. Supermarket competition will increase, not decrease, and although the company is continuing with its refurbishment and cost-cutting plans, frozen food is becoming a less popular choice for many shoppers.

The shares, to be fair, don't look expensive at 82.5p this week, compared with well over 150p early this year and 346p in 2000. They trade on seven times forward earnings with a prospective 4pc dividend yield. However, there's no indication that the shares are out of the ice age just yet and they are best avoided.

joe,i will hold mine long term,by the time my oldest goes to uni,,,they mite be on 2.00.

i`ll just have to wait 10 years thats all.

Ivester Chronicle have BFP as a buy, maybe oversold?

You will possibly find as many that will agree with it being oversold as will
not agree on here - seems everyone has a view on BFP which is either /or,no-one is luke warm or neutral on it - go with your own thoughts and instincts
as there is no general concensus on this one!

I know that trends don't go on forever. If they did, everything
would either go to zero or infinity. But this chart gives the perspective
on the bounce we are experiencing.
This may be the bottom, who knows? But why should it be?
Trend is still down until it stops.

Nothing has changed. Competition and margin squeeze is still there.
The debt isn't going away and the profits to service the debt, or indeed
provide scope for growth, are still coming under pressure.

Melnibone.

up 8.70% now, not to bad is it!

Not bad but let's not tempt fate just yet....(lol)

For you guys, will appear in the Independent newspaper tomorrow :

Big Food Group soared 7p to 93p on talk that Baugur, its biggest shareholder, is pushing for the company to break itself up. The Icelandic retailer controls 22 per cent of BFG's shares and was said to have vetoed its plans to buy Londis earlier this year. There were also vague suggestions that the value food retailer may attract a bid approach following the recent weakness in its share price.

Same peice in the Times.

Nothing like a bit of bid speculatiion to bring in new support

All 'donations' (comments, spectulation etc) are welcome when it comes to an out-of-favour share!

Times 30/7/2004

Big Food Group kept adavancing, up 1/4p to 85 1/4p on talk that Baugur its 22 per cent shareholder, could back a break up management buyout for food retailer 140p. Although such a proposal is said to have been mooted, it is not thought to have found support from Bill Grimsey, chief executive, or Bill Hoskins, finance director.

Oh thanks for sharing this SeaWall Walker - and we shall sit and wait and see
just when we got our discount cards etc too - now how typical and ironic
would that be!! (lol)

stockbunny I p[honeed my broker on the day and one was ent out arriving to following day. (Does that make sense???)


Seems they hold a load of blank ones issued by BFP.

Try yours and demand it!

You have shares if memory serves both on paper and in a nominee so either way there should not be a problem.

Yes I am waiting for mine to come through - via the paper deal.
Be interesting to watch and see what occurs...

afternoon all,i see you both got your cards.

sorry buns,i thought you had yours,seewall,have you been yet {booker}.

Hi Dave how was the holiday??

nice an hot,but there now seems to be a lot of north african`s around there,lots of russians/italian to,still good value.

You were in Italy weren't you? Well Russia or sections of Russians
have money now so I suppose will start traveling more as well as buying
football clubs and car makers (lol)

I think Russians are great especially when they chuck their cash at Chelsea.

I think anyone who chucks stuff at Chelsea is great (giggle....)
(Giggle....joke....please it was a joke....)

See this is what happens when you grow up with Chelsea fanatics
it warps your brain...(and then you turn into a rabbit....)

Left myself open for that one,I'd be happy if they turned into a Hare(oh no door open)

But I wont go there (giggle!)

Hi Dave

Not yet but going soon.

How long were you away & where did you go.

Thought you were (very) quiet. Took that as being put in your place by Misses Dazzler last time we spoke about BFP.

I have a feeling that this one is going up rapidly soon. It's too cheap to stay as it is for all sorts of reasons.

Bunny give them a prod. It is your entitlement!!!

allright all,no i was in nice for 1 night and monte carlo for 8 . not yet bought any more bfp,mite wait a bit longer.

Nice!

Went on Sunday.

Avarage 20% savings on most stuff if you buy in bulk compared to leading supermarkets on the shelf prices. Booker welcomes careful shoppers!

Remember that food items do not have VAT added, whereas non food does.

Apply this to the price shown on the shelves. Even food items have the same label which is a tad misleading. i.e. 24 tins of baked beans = 4.99 plus VAT, (equals 4.99 total if you see what I mean).

Did a bit, now requires a little planing to take full advantage.

Booker was busy even for a Sunday.

Yes a lot of people don't realise basic food is non-vat-able but some
stuff is - I think toilettries are and luxury foods and of course your
favourite tipple and fags. Seawall - yes forward planning is a must you
are quite right. My nearest one is a little way away, so will have to really
think as to whether it is worthwhile after all for me.

Investors Chronicle tip updates, buy bfp.goal.

allright people,nice to hear you have been seawall.

lots of volume early on today,why ?

It is near it's all tiume low so there will be buyers about.

These have to be cheap!

I would suggest that they are too risky to call as a long.
Report today suggests that with sales they are having a hard time,this year's profits have been sliced to bottom of the range for this and next year.
Numis has slashed target to 65p with like for like sales having deteriated from 1st quarters 1.7% fall.
Any likely bid from Bauger whom hold 22% or any other bidder does not need to materialise until the share price is lower.
To my mind the downside risk cannot be discounted,although like everything you bet it down and find it goes up.

your right there torquay,it would `nt surprize me if 85 was coming soon,,,,end of day,,you never no . myself bauger still wants to take it private me thinks,who no`s be lucky,it still owes me 20% but i wont sell yet.

what did i say about 85 by end of the day . its here now ?

Yup reached and slightly over by a fraction, still think we will
be holding for possibly 6 months, unless something unexpected happens.

bunny i have given up on this at the moment,i have other fish to fry . brjk/cash,are to of my recent buys big future for these,keep your eye on them.

Moving up....no idea why, but moving up!!

undervalued for sure,divi alone is more than any highstreet bank,i my sell if i can get out allmost even.

Are these worth a punt for recovery?

you tell me ? .
mite be troy,after all they went from 27,180,,,,,,,,,

Times speculates another takeover or buy out.

If it does, Dave is buying the drinks.

I assume you still hold Sainsbury?

yes sw ,but i would like 3.50ish,and thats a fair buyout price.

True.

hows that gas and oil going much change.i here there my be some news on the horizon soon with mtn.

The oil and gas is waiting for .........................

.....well, something!

The run up to Christmas should be either good or bad depending on results.

I know it is not your cup of tea looking at the way you trade, but I am into HNR, SEY, PCI & TLW.

I still hold other bits but the main is there.

I am amazed at all this bid rumour activity in the retail arena, looks like you chose wisely some months back.

to be honest seawall retail is my sector,but i do go for a wide spred of investments,all sectors,bar,oil/gas,textiles,well i have that covered in away,chemicals,power & water.had most other sectors through time,i do have my favs,,,,,,,of course ,we all do.
today i have bought,easyjet/reg vardy.
my golden rule`s are no your sector/and try to buy the top 3 in the sector.its worked for me .

Sounds a good plan.

Me, I have none.

I research, the reseacrh some mre, then watch and buy.

The biggest bloomers have been to listen to a freind who thinks he is in touch with the other side, (of the market).

That has stilted my perfomance, but left to my own devices I do not too bad.

I like the idea of bottom feeding, which I have done in respect of HNR and SEY, trouble is I have to wait for something then to lift them off the bottom.

They both have and now it is a waiting game.

I the mean time, my pension rolls in every month on the 1st which keeps the wolf from the door. (Early retirement is great and recommended).

thats what i hope for,but i will be over 50 by the time the dream comes true,but thats the goal.

Today's Subday Times:-

Judgment Day: Should you buy shares in Big Food Group?
Experts think Big is not so beautiful



BIG FOOD GROUP owns the Iceland chain and the food wholesaler Booker, which supplies corner shops and small firms.
Previously known as Iceland Group, the company changed its name in February 2002. Iceland was formed by Malcolm Walker and Peter Hinchcliffe two dissatisfied Woolworths employees in 1970, and expanded until it owned 748 stores.



The company assumed its present form when it acquired Booker in June 2000. Big Food Group abandoned a bid to buy the Londis convenience-store chain earlier this year and is currently in the middle of a 170m store-refurbishment programme.

The group employs almost 30,000 people and is run by Bill Grimsey, chief executive.

The two experts below have been selected for their skill in several investment areas. They, or the funds they manage, may hold shares in the companies or sectors discussed.

Andy Brough, fund manager at Schroders In the world of food retailing, big is beautiful, as shareholders in Tesco will tell you. Iceland, Big Food Groups earlier incarnation, was a leader in frozen food before the big boys decided it was an area they wanted to move into.

With such competition, Big Food has struggled to increase sales despite having 3.4m customers who spend 1.5 billion a year. New store formats are being rolled out with extended fresh and chilled ranges and a smaller frozen-food operation but it is too early to say if they are successful.

Operating margins are less than 0.2% (Tescos are about 6%). An increase in margins by 0.1% would add 15m to profits. Booker, the food-service division, generates sales of 3.5 billion, earning a margin of 1.5%. Some 1,455 independent retailers are supplied by the company and last year these sales grew by 8%.

Overall group sales are about 5 billion but Big Food made a profit before tax of only 50m. The group has debt of 255m, which compares with a market value of 287m. Interest is covered over six times on a cash basis, while fixed-charge cover, which includes all the operating leases, is covered just over two times on the same basis. These ratios should enable the company to keep refurbishing the old stores while continuing to reduce debt.

The profit forecasts in the market for this company currently range between 42.4m and 53m which is a large range for something as supposedly stable as food retailing.

Baugur, the retailer from Iceland, has a 22% stake you have to wonder if it bought the stake because it thought the company was part of the nations heritage but this holding provides some downside protection.

Convenience retailing is a growth area for supermarkets as the government is making it difficult for them to expand out of town. Big Food would be a small mouthful for one of the larger groups especially if J Sainsbury is cleared to buy Jacksons at a rumoured 0.7 times enter-price value/sales multiple. Judgment: Hold

Tim Steer, fund manager at New Star You may be able to buy your lunch at Big Food Group but other retailers like Tesco and Asda are having their lunch in terms of price and offering.

Big Food Group operates under two main brands Iceland and Booker. Forget Booker for the moment. This cash-and-carry retailer trundles along and makes between 50m and 60m in operating profit every year.

It is what is going on at Iceland that is of interest. I reckon times are tough for this food retailer. In the past 12 quarters, like-for-like sales have been down in all periods except two.



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Lots of negative sentiment in the press this weekend.

If it is all to be beilved, they are in trouble, more than we thought.

Will we wait for the predator? How much further can the price drop if the profits warning becomes reality?

My bottle is wobbling on the shelf!

Financial Mail on Sunday

TAKING STOCK: Andrew Leach comments on SAINSBURY (possible interest

from GUS), MFI (GUS mentioned as a possible partner), BIG FOOD GROUP

(some analysts predicting that a profits warning is now inevitable - the

company is due to give an update in mid-October; that could be the time

for a predator to pounce

another 3 pence and i am bailing out,time to check my parachute ready for the jump i think ..

Wheee...................

I am down with minor injuries.

sw i am out at 92 pence,,,,,,,if it gets there ? i will jump out and hit the ground with 10% burns//////////ouch,,,i`ll just after take the bump on the head.

they do say you should never go back,,,to a old address.

That's with your past women!

You'll be alright once the BFP storm is over.

as if sw,as if. and my booker cards up end of december,,now that was handy.i will just have to remember my number,and quote it at the desk .

I see sainsbury have issues a denial in respect of takeover talks.

In their case do not believe what you read.

The signs are all there for this sooner rather than later. I say hold, what do you think?

sw agree,this is still running {share price} very cheap,property alone would run in to billions,low numbers of course, say what you will about there stock problems,and there some what poor entry in to none food products!!!!!!.they will concentrate on quality & service,finance as well,,,,,,,,,,and hopefully regain some ground,,,,,and then where dreaming.

Not at all.

Too big not to make a come back.

yes,.

well i have missed this one being out today.WOW it is now up to my sell price,lets see how it goes tomorrow,

well i will be offloading today i think,its on the up.

sold 95.25,its a loss but we move on 9%.

I am still holding, there do seem to be more customers at the tills, over the last 2/3 weeks, still believe it could go higher,we will see.

Bid offer announced,that should help.

WOW!!!! Just seen it - anyone else still holding these????
Dave - this is NOT a good day to be out hun....

yes im still in , only got 100 though just kept them for the bookers card ,dont think i will be going on my hols with the money though lol

shonky

Shonky - a profit is a profit and an achievement regardless of
it's size, so good for you! Whatever you make on it, it will be more
then you could have made if you didn't own any at all!
There doesn't seem to be any clues as to who is bidding....or
have I missed something???

bunny,took a 400 hit,such is life.good luck to the rest of the holders.i am after some more brjk,,,,,,,but only at levels of under o.60.

stockbunny, Rumour is that it is icelandic group Bayer, it would be the icing on the cake, if we could get a second bidder showing interest,like the rumoured management buy out, some while back,but we might have to be happy with this bid. Bayer already own 22%.

roma ,i had a great run on this for about 2 years,bought at 98/sold at 177.but after i bought it ,,,,,,it went on a run down to 27 i think,,,,,,,,,then up to 180ish.good profit had first time 5k,not so good second 400 loss,but thats life.i am not so sure shareholders will be happy at 1.10ish,i no i would`nt ,,,,it could fall through . bauger,would love to own this outright,if it was on the cheap,but they cant buy vast amounts of shares because they will go over there % limit 29%.they will only take it private on the condition that they can name there price they want to offer,,,,,,,below 1.15 i would think ,but thats just my view.

any thoughts.

115p sounds cheap - but who would offer much more?? Well it's not
mega bucks but I'll take it if someone waves it in front of me!!!

Daves dazzers. Much as we would like to,none of us get it right all the time,we all take losses,at one time or another. Sorry about your loss this time but congratulations on your big gain last time.
I agree with you that they are trying to buy these shares on the cheap and feel the offer could have been a bit higher.
Another way of looking at it could be,if they inject more money into the stores,and refurbish,they could generate more sales and profits,and increase the value of the shares that way,only time will tell.

Well I don't know about anyone else but i'm not selling out today
at 102.5p - it has to get going better then that first!!!

if they wave it,bun,if????????

all quite on mtn,,,,,,still holding me.

roma,i am happy with what i came out with.last few weeks i thought i would have to take a bigger hit,,,,as the price fell back to 80 s.
it can be risky going back for a nother slice of cake,,,,,,,,,,,,good luck.

You still did good dave when you look at it all - both trades..

over the 2 yes i did great.

An offer from Bauger at 110p per share is daylight robbery.

I hope the company tell them to get lost!

sw,,,your right its a rip off, i fear if it wont get the nod,,,,,,,,,,,they mite cut and run & dump the lot,,,,they will get a nice profit because a lot of there buys where double figure number deals,but you just never no ??????.

True

The problem with this one is that with an up and coming profit warning, any subsequent pull out by Bauger would see the price drop through the floor.
That could mean another bid later for much less than 110p. Bad news on this share I feel.

Another idea is an increased offer after the 110p being rejected. I do not think that will happen much past 120p. It is clear that this is an oportunist bid for the Company, the result depends on the Boards belief that they can turn the Company around. I think they can but they need time to do it.

Option 3 is that we buy once the dust has settled at relatively cheap price and hold long term.

I would be looking to buy in at 60p or less if option 1 comes into play, if option 2 is the result, we stand at the quayside waving bye bye!

Just seen this as the last update yesterday, to me it reads that they will accept 110p, the weak Fools......................

Big Food confirms suitor is Baugur UPDATE
AFX


(Adds current trading)



LONDON (AFX) - Big Food Group PLC confirmed that it has received a preliminary approach from Baugur Group hf about a possible offer at 110 pence per shares in cash.

Earlier today, the company's shares surged after it said it was in offer talks, although it did not name the suitor.

The owner of the retailing chain Iceland and Booker wholesale business added that grocery trading remains difficult, hit by bad weather, with like-for-like sales for the 10 weeks to Sept 10 down 3.2 pct.

'The environment has also continued to be challenging in the light of consolidation in the grocery market and increasing price competition, which is expected to continue,' it said.

In the 23 weeks to Sept 10, like-for-like sales were down 1.7 pct.

Average net debt for the 23 weeks to Sept 10 was about 245 mln stg.

bam

We need someone like Somerfield to get interested, or a consortium
of the real 'biggies' in the sector to come in and carve the whole
group up, so each gets a few more convenience sized stores in prime
locations - they all seem to want them and it would work competition
wise if they were all involved.

However the chances of that happening are anyone's guess.

bunny,have you heard the stories,about malcolm walker.....making a play for some of the iceland stores!!!!!!!!!!!!!!!there my be some truth in it,malcolm walker,lives not to fae from me,and his cooltrader frozen food stores are in direct competition with iceland.store for store in each town there in together cooltrader wins hands down.there`s a few about in north wales,and merseyside region`s,and he is allways looking to open others,where there are iceland stores..

ps i see him sometimes in his bentley,,,,,and he also has one of them new rolls,royces,,,,,,,silver ,,,,big bugger`s.

Financial times Saturday says:-

Baugur/Big Food Group - a bid of 110p from Baugur, putting the shares on a 2005 P/E of 9.7 would be decent

I say think again!

I read that too - bottom line we will have to wait and see what goes on the table and hope it's more then frozen chips and burgers!

So, the writing was on the wall!

I hope I never invest in any company that this board have to do with again.

No confidence in themselves or their own abilites.

Recommedation now sell. I never did like Pingu...........

Big Food says it would recommend Baugur bid at 110p/share
AFX


LONDON (AFX) - Big Food Group PLC said it would recommend a bid from Icelandic retailer Baugur at 110 pence per share if the offer were made today.

The statement was made at the request of the Takeover Panel following recent press speculation.

BFG announced last Friday that it had agreed to let Baugur carry out due diligence on the company in view of its proposal to make an offer worth 110 pence a share.

newsdesk@afxnews.com

ak/

talk about run it to the ground,what a bunch of clowns,i dont think they want it to work. they have shops , people like ,asda,sainsburys,tesco,,would love to have,,,,,,,,,,just look at there locations in the community,,,,,,,,,prime sites.

I read somewhere that Walker was to buy 500/750 stores. Presumably Baugur will flog the rest to Tesco/Sainsbury and run Booker themselves or sell that too. It's an asset strip. Hope someone else pretends to be interested like HBOS/Abbey, then we can all sell out at a good premium.

FT

Ok but so far am I right in thinking nothing is actually on the table?
The board have said thats what they would recommend - but I'd recommend
a condo. in Brazil but that doesn't mean it's on offer...Let's see, I can
understand the feelings of outrage at the apparent sell-out approach, I
agree, but until "the fat lady sings" it ain't over guys...and you never
know someone else just might come in yet.......:>)

Seawallwalker - hey Pingu says he's cute and has no connection to the board.
;>)

price is going down now,,,,,thank god i cut and ran!!!!!!!!walker!!!!!!!!walker.

Dave - the price is off the high for today, but still up on last night.
Chill, go have a beer......;>)

are you still in bfp,bunny.i am still waiting for a price drop on brjk,,so i am holding fire for now,,but it my be today/tomorrow.

Yes I'm still in there on this one for my sins LOL

I am not here today so I can not answer any of you.

LOL good one seawallwalker!! ;>)

Yet more poor results today!

Good news is that they are still in talks with Baugur who were reported at the weekend to have lowered their 110p offer per share on the back of poor results.

I say I am glad to no longer not to hold these, what say you Dave?

Been having a look at these recently with the bid in mind, but after these results no way! Take away the bid talks and we could be looking at 40p or less.

I'm impressed, far from dropping through the floor, this one is holdingon.......for now!

Latest news is that poor profits may jepordise the takeover talks.

Good old Baugur, seen the light???

Look out 40p..........

And may it hold on a bit longer please LOL

Hi all you regulars,

I am new to this board as have been starting to sniff around these given the gap between present price and potential bid price.

Ok, so am aware that bid will almost certainly not be 110 but might hopefully be near 100, though if no bid comes then southside for price could be huge.

But as Grimley said at the results, there was nothing in them that Bauger would not already be aware of, (and possibly as a 22% shareholder, they probably already knew most/all the potential nasties involved before indicating a possible bid of 110).

Surely if the results put them off bidding at all, they would announce this within say a few days or a week. If their intention is to split the group up with the founder, (sorry, can't remember his name) wanting to get his hands back on the family silver, surely the downside to their bid isn't that much ?

I was thinking of playing this with a tight stop loss. Fair enough doesn't cover a gap in the price if they pull out entirely but might cover me if the bid price 'starts with an 8 or possibly a 9' as one analyst is reporting.

Comments from you old timers (on this board anyway) gratefully received.

Paul - you have to trust your own instincts and experience on this
one and DYOR on both parties involved - potential seller and bidder,
as it really is too tight to call - it could just as easily go
belly up as not IMHO and I still own some so if anything should be
a relatively optimistic ameteur commentator.
Whatever you decide be lucky!

Many thanks for those words Stockbunny.

I can't see Bauger walking away, (who mentioned JJB, WHSmith!!!) but I can see them possibly reducing the level of their bid, (they'd be daft not to try after all, and every analyst - for what they're worth - has been saying that they will), though if they try and buy it on the cheap, this might just entice others to join, or management, (or former management) to enter the fray.

Paul, Even with a 22% holding Bauger are not under any obligation to bid, they could sit on these for weeks or months. Look at it from a bidders point of view, why bid now when the share price is likely to drift... these results are terrible for food retailing. Price is only supported by potential bid, IMO a very weak support. Must be much safer stocks for you to enter.
Regards
opto

Agreed and there's always the potential to re-sell the stores and
what that is worth - personally I don't think sales are necessarily
of interest to a potential bidder, it could be more what the group
could fetch if sold piece by piece to the other big players.
But of course this is based on nothing but pure speculation...

lucky to be out at 95.25,,,,,,risky now with all this uncertainty about .

Any body else sold yet , read a paper today and it said they where losing sales to arch rival farm foods,,,,none near me!!!!!

There is near me.

Thyey stock smaller cheaper packages generally.

Can't see why they would in competition though!

More likely cheaper for the small trader to buy at Tesco rather than Booker, I think.

Morning sw,,are they a big outfit farm foods,is it another discount freezer shop.

I thought Farm Foods used to be stocked as a cheapie brand by Asda,
I wonder if we are talking about the same firm?

Pass

Bunny,mite be .

Farm foods // farm stores,,i can see the link,,if its that.

I dont see the point of asda doing a cheap small store , after all there cheap on a large scale.

And another point ,,i have heard a rummor that wallmart-asda,would like to move out of food over here,,and do the american thing ,everything but food!!check your local store,you will notice it already.

Could well be Dave and NO I can't see Walmart getting into anything
on a small scale - in fact I don't think they would know what to do
with tiny stores, let's be honest it would be really foreign to them
to operate in such a way - no too much hassle from their perspective.

SeaWallWalker - did you get my email via the BB

A bit off topic for here, but I just can't see the logic of asda / wal mart getting out of food. Yes it's a tough business but if they go into other things instead, (rather than as well) they have somehow got to attract millions of customers to their edge or out of town stores to buy the things. I think, just like Tesco, they will use their branding to sell more other items to their regular foot fall of weekly customers.

Wal mart / asda are just starting trialling a non-food store somewhere up north I think, (sounds a bit like woollies really), but apparently early indications are very positive. Interestingly they are using mezzanine floors to almost double up on selling space, (and get around the archaic planning system to increase sales space without increase land use).

If this works then this could spur them on to making a bid for either Matalan, (yes I know, yawn yawn, heard it all before) or Kingfisher for woollies, less likely imho as they have relatively small stores and relatively expensive high street space).

Incidentally I never understood why Tesco don't buy WHSmith for its high street presence, rebrand as Tesco metro to sell lunchtime foods, as well as books, papers. wouldn't this fill the gap between TEsco normal and their expanding convenience shops?


OK, random thoughts over. I bought BFP end of week before last. Anyone any idea when Bauger are going to finish due diligence and put up or run away ?

"OK, random thoughts over. I bought BFP end of week before last. Anyone any idea when Bauger are going to finish due diligence and put up or run away?"

Paul if you get to know anything please send me a private email, preferably the day before the event. Thanks kindly, I will see you OK :-))

Posted just for the laugh Paul. I think we all need one it's been a miserable day. Good luck with your buy.
opto

Paul30661,they can take mtn if they want above 2.80 fine by me ,, just a thought,i bet they would make more money on a fridge , than a bag of spuds , there`s not much money on food , Take a high street store comet walk in any week day and there wont be any more than 10 in what ever time a day it is weekend will be different.
On wallmart asda,i have been to liverpool today,and been to there stand alone george store,packed to the rafters,if you did a head count of how many people where in at any one time i would of said over 150 people where in , when i was there.
If you did a costing of the a/b {average basket}i would of said 20 minimum in each.
This is all a bit heavy for a saturday night,cheer`s for the info all the same.From a none bfp holder,,,,ffeeww.

stockbunny, no sign of it!!

stockbunny - 22 Oct'04 - 16:24 - 142 of 145


Could well be Dave and NO I can't see Walmart getting into anything
on a small scale - in fact I don't think they would know what to do
with tiny stores, let's be honest it would be really foreign to them
to operate in such a way - no too much hassle from their perspective.

SeaWallWalker - did you get my email via the BB

seawall , if your talking to me ,,then its no,,sorry.

SeaWallWalker - Re the email I send to you:
It was refering back to a post ages ago on Matalan (matalan thread)
and you asked how I knew it was going to fall back or something pricewise,
I only recently saw that post of yours and mine was to say basically
I didn't Know as such, so you didn't miss a trend or piece of news or anything!
The comment was based like a lot of my trading just on an instinct
which proved at that time to be right by coincidence.
I just didn't want you to think I had ignored your question from before.

I am okay stockbunny.

These threads are difficult to keep a track of.

Good instinct and thanks for replying.

An article in the sunday times ,says its not looking to good on the pension front at bfp ..

I know.....it's close to decision time on these..and they had been
starting to gain little bits too.... :>(

stockbunny - if it is any help, I saw that too re Baugur.

If they finish looking at Iceland, the price will drop like a stone.

there are other less risky(?) shares out there.

i.e Sterling Energy. (sorry, that obe has potetially high risk), lets try EZJ, (oh dave has already sucessfully ramped that one!).

Hmmmmmmm.............

Dunno then!

Woolies has upped to a sell price rather than a buuy so..........

LOL Sea-W-Walker!
I'm already in WLW - I know this one is a real gamble...oh well
serious thought time I suppose...
:>)

Sw esyjet is going very soon 181 in the magic number,i already have my next few nuggets lined up..Afternnon bunny.

Afternoon Dave!!!
Can I buy you a beer over at the tea-rooms?
;>)

Cheers for the beer bunny a bit late drinking it all the same.
Any views on this one,once a winner in the mid 90s,its on the floor now,,looks like its found in level.

News is that there is no certain outcome but talks are still continuing with Bauger.

Opto,are you a holder,if so whats your view on this divi .

No DD not in this, I think it is a bit of a wild spec at this time. Could pay off but risky!

Better out of it than in me thinks.

Wish I could say the same - but I'm still in and happy to see the
price up 3p today and the divi still in tact - that will help
to cover fees if I decide later to get out fast! LOL

Bunny,i wish you luck with it,there must be some value in it.

bunny,something i heard about vod,i will send you an email.

Baugur likely to cut Big Food Group bid terms after disappointing results

Evening sw,lots of info in the sunday papers,its not looking to good,unless your malcolm walker,in one of the papers they had him down to run the iceland side of the business{he would not do that unless he was the owner}one word,, cooltrader!!

Some papers dont have a clue ..

Hi dave.

Yes I saw a few items on this.

I have a horrible feling this is going to dive this week.

70's?

For what it's worth I'm still a holder. Was away last week when they dropped on Monday and the price just kept above my s.loss. Nice to see that they have recovered a bit but i agree that it's no longer looking as good. I did read some editorial that the price should still be 110 or higher though given the good margins, (rather than the overall profit).

If they do only offer 90-100p will we still get the divi? When is the xd date ?

Should still get the divi Paul as it has been announced and it wasn't
'subject to take-over' so I would have thought it would be 'iffy' for
them to withdraw it.

You're not alone, says a fellow sufferer - aka holder of shares!

Many thanks for that Stockbunny

Paul30661 - according to shares mag this week the divi is conditional
on the bid not going through - check the write up in results section.

Bunny post 158,i thought it was a bit iffey when they announced it,dont know what the current price is,,will have a look .

Still holding its own price wise be very careful ,not much support at this level.

RUMOUR OF THE DAY: BIG FOOD GROUP (talk that any offer from Baugur could be pitched as low as 90 pence) (Press comment)

FT - BIG FOOD GROUP (rumours Baugur is about to serve up a knockdown cash offer in the region of 80 pence per share)

sw,there`s an offer in the iceland times,,buy 1 and you get one free.

lol begining to look like it I think.

They may have missed the baot with EZJ though, I think the price of that will go up to previous levels.

Big Food?

Looking ominous.

This is looking a right mucky old rag stinks of bad management,,fancy getting a plumber to sell frozen food,,anybody still holding this.

Afternoon all,bfp holders.Malcolm walker has just opened a new store in the next town from me,its called pound freeze,like the new name!!
There is nothing over a pound in the store,it is a frozen food outlet,like his cooltrader brand,,and he is even using cooltrader carrier bags.Managed to get a few words with him,i asked him about all these rumours about him & iceland,with a smirk he replies i`am far to busy.
He`s like a kid with a new toy,if you ask me,,,walker the talker is back.

He could certainly charm the arse off a duck,as to these rumours ,i cant see him wanting anything to do with the iceland brand,,after all its been a bit of a node round his neck,, but under a different name,,,who knows!!

Baugur lines up buyer for Big Food's Woodward uunit - report
AFX


LONDON (AFX) - Icelandic group Baugur has lined up a deal to sell Woodward to rival food distribution company 3663 in the event it buys Big Food Group PLC, the supermarket chain which owns Woodward, the Sunday Telegraph reported.

The paper says analysts believe 3663, owned by South African company Bidvest, could pay up to 40 mln stg for Woodward.

The paper said Baugur is expected to make a formal 326 mln stg offer for Big Food, which also owns the Iceland frozen food chain and cash and carry unit Booker.

Under UK Takeover Panel rules it has until Friday to launch a formal bid.

Big Food last month said it had reached agreement with the acquisitive Icelandic group on the terms of a potential offer, subject to Baugur receiving final credit committee approvals from its financing banks.

Big Food first announced it was in preliminary takeover talks with Baugur in September. It said at that time any offer was expected to be pitched at around 110 pence per share.

But the value of the offer was slashed to 95 pence after Big Food, under intense competition from bigger rivals such as Tesco PLC, suffered a severe downturn in trade.

rob.branch@afxnews.com

Malcolm Walker poised to take control of Iceland if Baugur bid for Big Food succeeds

Paper talk sw,they love a story!!!!dont we all.

I take it, that's this Friday for the deadline to make a formal offer?

Sorry, yes as I understand it anyway.

Oh well It Is Christmas and one thing this sorely needs is
a minor miracle!

Afternoon all,bit of a sorry state big food group are in,,especially iceland.



Brings a sad end to what once was an innovative company,and very good to me,we all have a soft spot ,for one`s we have done well on!!!!.



Just my view but 1.10 is ****ing cheap at half the price..

Errr not half the price Dave please - I need at least 3/4 of that
figure and all of it would be great....

I tell you what,i could do a better job them plums around the desk,,not so sure there would be food sold,,more like !!!!!!!!!!!


































what ever i could get,at the mo ,,levi/lee jeans.

LOL Dave! ;>)

Its a stitch up ???

Big Food makes 'substantial progress' in Baugur takeover talks
AFX


LONDON (AFX) - UK food retail and distribution company, Big Food Group PLC said discussions are proceeding well over the agreed 326 mln stg takeover bid from Icelandic retailer Baugur.

The UK group, which owns the Iceland frozen food retailer, said it had made 'substantial progress' in talks over the 95 pence per share takeover offer, which was announced at the end of last month.

Big Food said papers had been lodged with the court to preserve the intended scheme of arrangement timetable.

Baugur bids 95p per share for Big Food Group
MoneyAM
Big Food Group confirmed today it has recommended a 95p a share bid from Giant BidCo Limited, a consortium led by Baugur, the Icelandic investment company.

The deal, which values BFG at 326m, will be effected by means of a scheme of arrangement, subject to the approval of the high court and shareholders.

The scheme is expected to become effective on February 11th, 2005.

Well under the circumstances I suppose the best we can say is,
it didn't end up going any lower then it did!

Whats that news.

Someone has increased their holding in the company - trading
stops on 10th Feb - next week.