Anyone looked at Highway insurance. Div yield of 8.82 and a PE of 5.22.
Share price at an all time low.
Seem cheap, am I missing something?

Yes, a handful, bought recently at 40p as a speculative punt on a bid. Here's hoping...

A new 1-year high set today. Slowly but surely heading north this one.

Does this news merit an immediate 5% sp drop?

LONDON (AFX) - Highway Insurance Holdings PLC said its chief executive officer Andrew Gibson has resigned with immediate effect to 'pursue another opportunity.'

In a statement, the company said as a consequence, executive chairman Ross Dunlop will assume a number of the CEO's responsibilities.

Sounds like good news.....

Highway Insurance Holdings PLC
19 July 2005


HOLDINGS IN COMPANY

Highway Insurance Holdings Plc ('Highway') was notified on 18 July 2005 that FMR
Corp. and Fidelity International Limited and their direct and indirect
subsidiaries have notifiable non-beneficial interests in 18,373,539 Highway
ordinary 20p shares, representing 9.04% of the issued share capital of Highway.
This is an increase of 1,908,920 shares since their last notification to Highway
on 8 June 2005.

ah yes found it!

I like the look at this. Good for income.
Aberforth has 11% stake. which is very encouraging.

Crikey, this thread has been quiet for an awfully long time. I dipped my toes into HWY today. No idea if we're at the bottom but felt now was the right time.

Perhaps this thread will come to life now :-)

The Board of Highway Insurance Group notes the recent rise in the Highway share price and announces that it is in advanced discussions with a third party that may or may not lead to an offer for the Company.

Interesting. I've had these in my SIPP for some time and was fortuitous enough to add this morning purely for the yield and the hope tomorrow's results are as good as I think they'll be. The decision now is whether to cash in on the rumour or see what happens next.

yes do we cash in yield or no yield

Another 15% this morning on the back of the offer info contained in the interim statement. Now it's about average for the price performance over the last couple of years.

Wonder if there's anything else in the wings or is that it?

Looks lovely, doesn't it? ;-)

LONDON, Aug 28 (Reuters) - British motor insurer Highway Insurance Plc has agreed to a takeover by mutual society Liverpool Victoria Insurance Company in a deal worth around 150 million pounds ($276 million), the companies said on Thursday.

Liverpool Victoria is offering 73.35 pence per share, plus the interim dividend of 1.65 pence, to give a total 75 pence cash per share.

Highway shares were up 14 percent at 73 pence early on Thursday.

The offer represents a premium of about 47 percent to Highway's closing price of 49.75 pence on Aug. 26, the day before Highway announced it was in advanced takeover talks with a single party, a statement that sent its shares up nearly 30 percent.

Liverpool Victoria said there was 'strong industrial logic' to a combination of the two general insurance businesses.

The deal had the potential to accelerate Liverpool Victoria's aim of being a top five insurer in its markets by 2012, it said.

Highway Insurance CEO Andrew Gibson called the offer 'an attractive financial result' in the statement and said the combined business would have 'greater resources to capitalise on opportunities in the broader general insurance market'.

Highway separately reported on Thursday that its first-half pretax profit fell to 1.4 million pounds from 11.8 million a year ago.

Happy days for Highway holders, me included, that bought in during the recent SP weakness.

nice day

Price is at potential offer, discounting dividend. The question now is what to do - hang around for a potentially better offer or take the money and run.

I'm hanging around Big Al. No-lose situation really. If the offer is withdrawn the shares will obviously head southwards but the juicy dividend will be there. And I didn't buy the shares for their take-over potential so this is just a bonus for me.

It's always a difficult one, queen1. Personally, I'm not inclined to hang around in a bear market for a bid to fail so sorely tempted. I'll probably sleep on it over the weekend.

Best of luck with your decision :)