Monday saw more action for Titan holders- Mefro Wheels GMBH, a german private company increased it's holding to 29.9% by acquiring stock at 40p - against the prevailing market price of 20p. Mefro wheels acquired their original 24% stake at 40p in December.
A subsidiary of Titan International Inc, Tital Luxembourg Sarl, acquired 2,079,600 @ 35p and 339,000 @ 31.5p over the last two days taking their stake to over 20%. A director of Titan Lux Sarl is the non exec chairman of Titan Europe.

Roosters are hungry at this time of year and need to eat on chicken feed. This looks like a grain fest given Titan International broke off talks to buy Titan Europe in 2008 over 200p per share. Yeah - markets have changed but a battle for control of a niche business looks set to keep me well fed for the H1 09....

Three Dirt Cheap Small Caps
Published in Company Comment on 20 February 2009

Wheels on fire
Whilst Tolent is the least risky of the three shares, I think Titan Europe is the most interesting and have bought some myself. It has been subject to stake building by a rival and an attempt by its original owner, Titan International (NYSE: TWI) to buy it back.

In June Titan International made an all share offer worth 230p but three months later they called it off. The shares crashed as low as 7p in December before Germany's Mefro Wheels bought 25% of the company at 40p, over 300% more than the market price.

Mefro came back for more last month, taking its stake to 29.9%, the maximum allowed under takeover rules without making an offer for the whole company. Simultaneously a secretive Canadian fund manager bought 5% at 35p. Titan Europe was forced to say it had not received any bid approaches. It seems to me if a rival thinks a company is worth 40p then it's fallen too low. However, just this morning Titan said although profits for 2008 will be in line with expectations, 2009 has got off to a slow start. It reckons sales will fall by 30% from last year's total of 450m and added that it wouldn't be paying a final dividend for 2008. Its shares have dropped from the price shown in the table above.

There are probably more profits shocks in store for these high-risk shares, but they are priced to go bust and there's still a chance of another bid for Titan Europe.

http://www.fool.co.uk/news/investing/company-comment/2009/02/20/three-dirt-cheap-small-caps.aspx

Price up again today as expected on decent volume. Order book is also healthy on the buy side.

About 70% of the shares in the hands of major shareholders and if Titan Inc. want to buy more or someone else there is going to be big short squeeze on resulting in bigger rises.

At this rate, may hit 30p today.

treacle get some HERENCIA/HER if the mm,s will sell you any partner news imminent.

A predator like Mefro or Titan International will snap the company up. Good close and might possibly rise alot more on Monday again. There wasn't much buying at all today to fuel the 23% rise and the most significant trades were 70,000 buy at 27p which bought the lunchtime surge and proved the stock shortage adage right and then a 100,000 sell towards the close at 25.50p. Very little risk imo here with the directors, mefro's and titan international inc. stakes!

Topped up this morning. Final results should be anyday now!

Topped up again by another 18,000 shares this morning. Finals are out by next Friday.

Perking up again on not much buying!

Patience needed for a few more days but check out the statement from Titan International - need a bigger hint? Takeover news could be accompanied with Finals anyday now. Titan Europe received a bid of 230p per share in April last year.

Subject: General news
Date: Thu 26th Feb 2009 11:05:22
Country: USA
Industry: Industrial engineering
Company:


BRIEF-Titan International Q4 results

Feb 26 (Reuters) - Titan International Inc (Illinois):
* Announces record fourth quarter and yearly sales results and corporate
milestone of over $1 billion in revenue
* Q4 pro forma earnings per share $0.17
* Q4 revenue $258.6 million
"* Sees further consolidation in specialty wheel and tire market in 2009"
* Reuters Estimates Q4 earnings per share view $0.23, revenue view $236.45
million
* Q4 net loss per share $0.53

30p soon then..?

Perking up again, and could jump over 25p soon!

treacle brazillian diamonds/BDY news out not on advn or other bb,s

24.0-25.0 pence, nicely poised for finals next week and imo very sharp upwards re-rating!

Finals are out by next Thursday and imo could well be accompanied with takeover news imho:-

News Release from Titan International, Inc.
February 26, 2009
Titan Announces Record Fourth Quarter and Yearly Sales Results and Corporate Milestone of over $1 Billion in Revenue

"Because the world is contracting, we believe there will be further consolidation in the specialty wheel and tire market in 2009. This consolidation should be beneficial for Titan's long-term growth''.

http://www.titan-intl.com/news/22609

I'm willing to bet the figs aren't accompanied by a bid. Ramping rubbish.

Titan International have imo so much said in terms of the below quote that expect any consolidation to benefit them. Titan Europe expected to announce increase turnover of 450m this time around and having offered 220-230p this time last year....with finances strong again for them they will imo come back and takeover Titan Europe at possibly half the price offered last year at around 110p.

"This consolidation should be beneficial for Titan's long-term growth''.

Even if a takeover is not announced with the finals, I'd still expect a signigicant re-rating from these levels to well over 50p levels. Expect to see more directors buying and from Titan Inc. on that.

'The one analyst offering a 12 month price target expects Titan Europe (TSW:LSE) share price to rise to 280.00 in the next year from the last price of 23.75'.

http://markets.ft.com/tearsheets/analysis.asp?s=TSW%3ALSE

Topped up again this morning at 24.50p. Looking better now, 23.50-26.50p.