LOL dragged up by RAMBOY whatever next treble!

Rough ANL arbitrage as I'm busy but... 603-31 special dividend gives 572/800 pre-close = 603 bid therefore shareprice element is at .715 - BSCH 774 gives: (BSCH*0.715)+31=584.41

tkx kyoto

TP....i was man handled...not a pleasant experience however the rest of the boys seemed to think it was hiliarious!

Fulhamken - doesn't take into account exchange rates, possible dodgy sums on my part, not reading the bid document properly for longer than 1 minute, possibility that some regulator somewhere will block or due diligence will turn up something.

at least your maintaining a life outside trading treb, beats posting on the lonely hearts thread at midnight, heres one for all you truckers out there:)

closed short anl - 1
closed long anl + 10.5
closed long anl + 12.0

currently long anl 561

26p bounce from Low all over the show

ruth, you have hotmail.

anl +12. takeover price works at 5.45
present price of santa ia 7.80 at .66 exchange rate it values anl at 5.14
+ 31p div = 5.45

price spike suggests that a counter bid is in the offing

What I don't understand about the ANL bid is why Reuters and Bloomberg are running stories saying that the bid is valued at 550-560 per - when the ANL release states 603. Any thoughts? Am I missing something here?

The terms of the Acquisition are based on the equity market
capitalisations of the two companies over the last three months and (taking into
account the special dividend) represent a premium for Abbey Shareholders of
approximately 28.6 per cent.2, valuing each Abbey Share at 603 pence (609 pence
taking into account 6 pence for dividend differential) and the entire issued
ordinary share capital of Abbey at approximately 8.9bn (13.4bn)(1),(2).
http://www.uk-wire.com/cgi-bin/articles/200407261002422015B.html

Abbey investors will receive one Santander share and 31 pence in cash for each Abbey share, Santander Chairman Emilio Botin told analysts in London. That values the offer at 560 pence a share based on the Spanish bank's closing price Friday.http://quote.bloomberg.com/apps/news?pid=10000006&sid=a9eY1aEP6iAk&refer=home

The terms value Abbey at 559 pence a share including the dividend payout, based on Santander's share price when it was suspended on Friday after the companies said they were in talks.
http://www.reuters.co.uk/newsPackageArticle.jhtml?type=topNews&storyID=554053&section=news

Santander double-bottied at 7.74 and bounced back to 7.83 Volume just 34m.

Yes, I am missing something. That wasn't 603 BSCH market cap Friday, but based on an average. So my sums are off. See what happens when you have a job and don't have time to read things?! Bad marks to ANL though.

Still holding, but very much thinking about my exit price now.

Plate-painting rent boy got back in one piece, I see.

Bummer!

ROFLMAO!

Hi everyone and David, I have been off the board for a while as I have had computer problems. New computer - with TWO screens! now up and running, thanks to the computer prowess of Foale. Hoping the trading will now take off - to pay for the new computer, if nothing else! H

Calling HelenW ru there?

Yes, I'm here. God, this 17in screen is scary!!

Welcome back Helen. ;-))

HelenW

you should not use the word prowess and 17" so
close together :-)


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