Anyone notice the exratordinary volumes yesterday? (10/5/2004)

48 million!!!

Many more buys than sells.

That and the price held out only losing a fraction of a penny.

No Easter Eggs in sight in my local store.

May be one reason but............

Any ideas people?

Woolworths gets new Apax takeover approach as offer deadline extended
AFX


LONDON (AFX) - High street retailer Woolworths Group PLC said it received an improved takeover proposal from Apax Partners Worldwide LLP pitched at 58.2 pence per share, up from an original indicative offer of 50-55 pence per share.

The retailer said it agreed to let Apax carry out due diligence on the understanding that any formal bid is made before the extended deadline set by the Takeover Panel.

The Takeover Panel extended the deadline from noon on March 21 to May 6.


So they will accept that imo.

Well done Bish for holding out, shame I did not!

Prop it was on the cards but done my money on these last summer,,wish i could of got 36,,could of had it at 38 ****.

Big day tomorrow will the bishop still be at the alter,to bless the woolworth faithful.

Must do better.

im still in tommo should be fun

Looks ok to me,its a smash and grab at 58.2 pence a share.

Results announced, profit down to 9.3 mill from 66 mill, no divi!! good job a takweover is at hand or the shares would be on the floor.

58.2 is a steel opto ,,run it to the ground,,and give them no choice springs to mind.

Keeping out of this one Dave, you know me, don't like risky situs.. LOL

Not one for me either,mid 30s yes mid 50 no.

Its a touch heavy today this one early doors.

Apax Partners Says Abandoning Woolworths Group Offer (

http://www.bloomberg.com/apps/news?pid=10000102&sid=aStfoiIge7Uc&refer=uk

Dive, Dive Dive!!!!

Bloody hell sw thats made my day,will have a good look at this now.

35 pence tomorrow unless someone else comes in, which I doubt.

Well i did want 36 before all this apex news came on the scene.

I would not buy for more dave, things look serious on the High Street lately........

I take it the news broke after close sw.

Yes this evening around 9 ish I saw it.

http://www.bloomberg.com/apps/news?pid=10000102&sid=aStfoiIge7Uc&refer=uk

This link may help people save money if they bail this morning first thing.

It says APAX have pulled out.

Woolworth bid dropped
MoneyAM
The future of Woolworths has been questioned after venture capitalist Apax dropped its bid.

The financial group cited concerns over "key cash items".

Apax had offered 837m, or 52.8 pence for every Woolworth share, but withdrew the bid late on Wednesday after having been given access to the firm's books.

Analysts said that the decision is likely to hit Woolworths shares when the market opens in London on Thursday.

Woolworths played down concerns, saying it was a "big, profitable" company.

Speaking to the Financial Times, Woolworths chairman Gerald Corbett said that "it is very difficult dealing with venture capitalists".

"We thought our shareholders would want us to explore" the 58p a share bid, Mr Corbett explained. "We have explored it, but they've withdrawn and so it is back to business as usual."

"We are a big, profitable, cash-generative business."

Analysts were less optimistic and said that there have been concerns over Woolworths and its business model for a number of years.

Last month, Woolworths said retail conditions remain "difficult" after reporting a 1.3% fall in like-for-like sales during 2004.

Justin Urquhart-Stewart of Seven Investment Management said that Woolworths was one of a number of ailing UK retailers.

The problem facing Woolworths, he continued, was that the company did not have a very clear role to play on the High Street and consumers were unsure what exactly it offered.

Apax declined to comment on what problems there were, saying only that they related to "key cash items".

"It is significant," said Seven's Urquhart-Stewart, adding that investors will be worrying about the venture capital firm has uncovered.

"What has Apax found?"

Analysts speculated that there may have been some unseen problems or costs related to Woolworths real-estate portfolio and plans to sell of its remaining Big W stores.


Good luck.

It does not bode well, over 2 million sales pre open at 40p now 39p.

Can anyone tell me how these early trades happen?