ARUCHUNA
- 27 Jan 2004 12:00
NO ONE IS TALKING ABOUT THIS LITTLE RASCAL-WHATS HAPPENING-ANY NEWS ABOUT MERGER-THERE IS RUMOURS THAT IT COULD VALUED AS MUCH AS 10P A SHARE-IS IT TRUE??IF ANY ONE KNOWS ANYTHING PLEASE REPLY-I COULDN'T BELEIVE THAT PEOPLE STOPPED WRITING ABOUT THIS SINCE THE MERGER ANNOUNCEMENT WAS MADE-BUT PLENTY OF SUGGESTIONS AND POSITIVE NOTES BEFORE THE ANNOUNCEMENT-IS IT GOING BUST???????
janesteve
- 08 Jun 2004 09:46
- 79 of 104
has anyone got any information on millfield as to the possible value this merger would bring.....seems to be a bit more buying going on this morning...no movement in price yet though....
xmortal
- 08 Jun 2004 11:02
- 80 of 104
Here is a compilation of RSN which shows some investment houses have been acquiring shares.
xmortal
- 08 Jun 2004 11:02
- 81 of 104
Company Societe Generale Asset Mngmt UK Ld
TIDM
Headline Rule 8 - Inter-Alliance Gp
Released 09:27 19 Apr 2004
Number 7290X
RNS Number:7290X
Societe Generale Asset Mngmt UK Ld
19 April 2004
Date of Disclosure 19/04/04
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing 16/04/04
Dealing in INTER ALLIANCE GROUP PLC (name of company)
1) Class of securities (eg ordinary shares) ORD
2) Amount bought Amount sold Price per unit
2,000,000 0.017
3) Resultant total of the same class owned or controlled
(and percentage of class) 73,804,199 (8.15%)
4) Party making disclosure SOCIETE GENERALE ASSET MANAGEMENT UK LIMITED
5) EITHER (a) Name of purchaser/vendor (Note 1)
OR (b) if dealing for discretionary client(s), name of fund
management organisation
SOCIETE GENERALE ASSET MANAGEMENT UK LIMITED
6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO
Specify which category or categories of associate (1-8 overleaf)
If category (8), explain
(b) Rule 8.3 (ie disclosure because of ownership or control of 1%
or more of the class of relevant securities dealt in) YES
Signed, for and on behalf of the party named in (4) above N/A
(Also print name of signatory) MYRA RAND
Telephone and extension number 020 7815 8608
xmortal
- 08 Jun 2004 11:03
- 82 of 104
ANOTHER BY JUPITER JUST DAYS AFTER SOC GEN:
Company Jupiter Asset Management Limited
TIDM
Headline Rule 8 - Inter-Alliance Gp
Released 10:25 19 Apr 2004
Number 7316X
RNS Number:7316X
Jupiter Asset Management Limited
19 April 2004
Date of Disclosure 19TH APRIL 2004
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing 16TH APRIL 2004
Dealing in INTER-ALLIANCE GROUP PLC (name of company)
1) Class of securities (eg ordinary shares) ORDINARY
2) Amount bought Amount sold Price per unit
180,000 1.75p
3) Resultant total of the same class owned or controlled
(and percentage of class) 21,200,000 (2.34%)
4) Party making disclosure JUPITER ASSET MANAGEMENT LIMITED
5) EITHER (a) Name of purchaser/vendor (Note 1)
OR (b) if dealing for discretionary client(s), name of fund
management organisation
JUPITER ASSET MANAGEMENT LIMITED
6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO
Specify which category or categories of associate (1-8 overleaf)
If category (8), explain
(b) Rule 8.3 (ie disclosure because of ownership or control of 1%
or more of the class of relevant securities dealt in) YES
Signed, for and on behalf of the party named in (4) above N/A
(Also print name of signatory) GERRY ABSALOM
Telephone and extension number 020 7314 4785
xmortal
- 08 Jun 2004 11:05
- 83 of 104
NOW BY HSOS
Company HBOS PLC
TIDM HBOS
Headline Rule 8 - Inter-Alliance group
Released 11:10 19 Apr 2004
Number 7364X
FORM 8.1/8.3
Lodge with a RIS or Newstrack if appropriate and the Takeover Panel. Use a separate form for each class of securities in which dealings have been made.
Date of Disclosure
19/04/2004
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3 OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing
16/04/2004
Dealing in (name of company)
Inter-Alliance Group plc
1. Class of securities (eg ordinary shares)
Ord 1p
2.
Amount
bought
Amount
Sold
Price
per unit
1
0.0175
3. Resultant total of the same class owned or controlled (and percentage of class)
.72,361,478.7.970%
4. Party making disclosure
HBOS plc
5. EITHER (a) Name of purchaser / vendor (Note 1)
HBOS plc and its subsidiaries
OR (b) if dealing for discretionary client(s), name of fund management organisation
6. Reason for disclosure (Note 2)
(a) associate of
(i) offeror (Note 3)
NO
(ii) offeree company
YES
Specify which category or categories of associate (1-8 overleaf)
6
If category (8), explain
(b) Rule 8.3 (ie disclosure because of ownership or control of 1% or more of the class of relevant securities dealt in)
YES
Signed, for and on behalf of the party named in (4) above
(Also print name of signatory)
Kenny Melville
Telephone and Extension number
0131 243 8671
xmortal
- 08 Jun 2004 11:10
- 84 of 104
AND AGAIN BY SOC GEN ON THE 21/04/04
Company Societe Generale Asset Mngmt UK Ld
TIDM
Headline Rule 8 - Inter-Alliance Gp
Released 09:23 22 Apr 2004
Number 8809X
RNS Number:8809X
Societe Generale Asset Mngmt UK Ld
22 April 2004
Date of Disclosure 22/04/04
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing 21/04/04
Dealing in INTER ALLIANCE GROUP PLC (name of company)
1) Class of securities (eg ordinary shares) ORD
2) Amount bought Amount sold Price per unit
5,000,000 0.015
3) Resultant total of the same class owned or controlled
(and percentage of class) 78,804,199 (8.70%)
4) Party making disclosure SOCIETE GENERALE ASSET MANAGEMENT UK LIMITED
5) EITHER (a) Name of purchaser/vendor (Note 1)
OR (b) if dealing for discretionary client(s), name of fund
management organisation SOCIETE GENERALE ASSET MANAGEMENT UK
LIMITED
6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO
Specify which category or categories of associate (1-8 overleaf)
If category (8), explain
(b) Rule 8.3 (ie disclosure because of ownership or control of 1%
or more of the class of relevant securities dealt in) YES
Signed, for and on behalf of the party named in (4) above N/A
(Also print name of signatory) MYRA RAND
Telephone and extension number 020 7815 8608
xmortal
- 08 Jun 2004 11:11
- 85 of 104
MORE from Jupiter
Company Jupiter Asset Management Limited
TIDM
Headline Rule 8 - Inter-Alliance Gp
Released 11:22 28 Apr 2004
Number 0839Y
RNS Number:0839Y
Jupiter Asset Management Limited
28 April 2004
Date of Disclosure 28TH APRIL 2004
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing 27TH APRIL 2004
Dealing in INTER-ALLIANCE GROUP PLC (name of company)
1) Class of securities (eg ordinary shares) ORDINARY
2) Amount bought Amount sold Price per unit
3,800,000 1.25P
3) Resultant total of the same class owned or controlled
(and percentage of class) 25,000,000 (2.75%)
4) Party making disclosure JUPITER ASSET MANAGEMENT LIMITED
5) EITHER (a) Name of purchaser/vendor (Note 1)
OR (b) if dealing for discretionary client(s), name of fund
management organisation
JUPITER ASSET MANAGEMENT LIMITED
6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO
Specify which category or categories of associate (1-8 overleaf)
If category (8), explain
(b) Rule 8.3 (ie disclosure because of ownership or control of 1%
or more of the class of relevant securities dealt in) YES
Signed, for and on behalf of the party named in (4) above N/A
(Also print name of signatory) DAVID FIELD
Telephone and extension number 020 7314 4915
xmortal
- 08 Jun 2004 11:12
- 86 of 104
more soc gen buildin up their stock.
RNS Number:1315Y
Societe Generale Asset Mngmt UK Ld
29 April 2004
Date of Disclosure 29/04/04
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing 28/04/04
Dealing in INTER ALLIANCE GROUP PLC (name of company)
1) Class of securities (eg ordinary shares) ORD
2) Amount bought Amount sold Price per unit
5,000,000 0.0125
3) Resultant total of the same class owned or controlled
(and percentage of class) 83,804,199 (9.25%)
4) Party making disclosure SOCIETE GENERALE ASSET MANAGEMENT UK LIMITED
5) EITHER (a) Name of purchaser/vendor (Note 1)
OR (b) if dealing for discretionary client(s), name of fund
management organisation
SOCIETE GENERALE ASSET MANAGEMENT UK LIMITED
6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO
Specify which category or categories of associate (1-8 overleaf)
If category (8), explain
(b) Rule 8.3 (ie disclosure because of ownership or control of 1%
or more of the class of relevant securities dealt in) YES
Signed, for and on behalf of the party named in (4) above N/A
(Also print name of signatory) MYRA RAND
Telephone and extension number 020 7815 8608
xmortal
- 08 Jun 2004 11:13
- 87 of 104
NOW MERRIL LYNCH JOINTS THE FEAST:
Company Merrill Lynch Investment ManagersLd
TIDM
Headline Rule 8 - Inter-Alliance Group
Released 10:56 30 Apr 2004
Number 1913Y
FORM 8.1/8.3
Lodge with a RIS or Newstrack if appropriate and the Takeover Panel. Use a separate form for each class of securities in which dealings have been made.
Date of Disclosure
30th April 2004
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3 OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing
29th April 2004
Dealing in (name of company)
Inter-Alliance Group Plc
1. Class of securities (eg ordinary shares)
1p Ordinary Shares
2.
Amount
Bought
Amount
Sold
Price
Per unit
120,000
1.35p
3. Resultant total of the same class owned or controlled (and percentage of class)
14,475,989 (1.59%)
4. Party making disclosure
Merrill Lynch Investment Managers Limited
5. EITHER (a) Name of purchaser / vendor (Note 1)
OR (b) if dealing for discretionary client(s), name of fund management organisation
Merrill Lynch Investment Managers Limited
6. Reason for disclosure (Note 2)
(a) associate of
(i) offeror (Note 3)
XXX / NO
(ii) offeree company
XXX / NO
Specify which category or categories of associate (1-8 overleaf)
If category (8), explain
(b) Rule 8.3 (ie disclosure because of ownership or control of 1% or more of the class of relevant securities dealt in)
YES/ XX
Signed, for and on behalf of the party named in (4) above
(Also print name of signatory)
Katey Neate
Telephone and Extension number
020 7964 5641
xmortal
- 08 Jun 2004 11:23
- 88 of 104
TRADING STATEMENT ON THE 07/05/04
Company Inter-Alliance Group PLC
TIDM IAL
Headline Trading Statement
Released 17:41 5 May 2004
Number 3438Y
RNS Number:3438Y
Inter-Alliance Group PLC
05 May 2004
Inter-Alliance Group PLC ("Inter-Alliance" or the "Company")
Trading Statement
Earlier today Inter-Alliance Group PLC announced that its merger discussions
with Berkeley Berry Birch plc had been discontinued. Whilst the Directors are
obviously disappointed that these discussions were not concluded successfully,
they are pleased to report that during that time Inter-Alliance has continued
along its pathway towards profitability through an outstanding set of new
business results in the first quarter.
Unaudited results for the year ended 31 December 2003
The Group's annual report and accounts for 2003 are in the final stage of the
audit process and are expected to be released shortly.
Those accounts will confirm the significant progress the Group has made in 2003.
Gross revenue for 2003 was up by 22.5% over the previous year at 63.6m (2002:
51.9m). In addition, the annualised increase in productivity over that period
was a very pleasing 25.9% over the equivalent figure for 2002 (55,000 over
43,700).
This progress has been supported by the growth in the number of the Group's UK
based Advisers. At the end of 2003, the Group had 1,208 - an 11% increase over
January 2002.
The profit and loss account shows a gross profit of 16.0m (2002: 10.2m) and an
operating loss before exceptional items of 20.0m (2002: 11.0m).
However, the significant improvement in the second half operating loss before
exceptionals to 5.3m (H1 03: 14.7m) indicates the progress being made. As part
of the restructuring exercise the Group also incurred a charge of 13m for
exceptional costs of which 6m relates to the fundamental restructuring and 7m
to write downs and provisions for onerous leases, contracts and balances arising
as a consequence of the restructuring. The majority of these latter provisions
were not cash costs. Normal operating costs for the year before the above but
including those normal operating costs assumed from former associate companies
amounted to 36m of which 21m occurred in the first half and 15m in the second
half. Cash or cash equivalents at the year end were 10.4m.
2003 was a year of major cost saving initiatives across the Inter-Alliance
Group. These significant cost saving actions resulted in a halving of the staff
numbers to 298 at the present time and in the number of operating premises from
59 to 26. These steps reduced the annualised overhead run rate to approximately
24m at the year-end. Further cost reductions amounting to approximately 2m
scheduled for implementation around the year-end were deferred so as not to
prejudice benefits that were expected to arise from the merger.
This radical restructuring has produced a company in which far fewer people now
provide a much more cost effective and improved service for our Advisers.
On the revenue side of the business, the successful launch and development of
PMH Alliance allowed Advisers (both established and newly recruited to PMH
Alliance) to place their non-regulated business through the Company. This move
has proven to be very successful with the monthly revenue via PMH Alliance
running at approximately 1m at the year end. Building on the success of this
strategy, the Group has developed a comprehensive whole of market proposition to
take full advantage of the forthcoming opportunities to bring mortgage and
general insurance business within the Group.
With the proven track record for restructuring the business, removing
significant cost and introducing new distribution strategies, the Directors are
confident that the Group is increasingly well placed to maximise the
opportunities emerging from technological and regulatory change. At the heart of
the strategy the Group intends to give all of its Advisers the reason and the
opportunity to place all their business via the Group.
Current trading
The Directors are pleased with first quarter trading results. The number of UK
based Advisers has increased and the volumes of both submitted and issued
business are up by 23% on the comparable period last year. The Directors are
convinced these results are a direct consequence of the actions taken to
restructure and introduce new revenue lines to the Group.
Whilst certain identified cost saving plans were deferred others have recently
been implemented including the rationalisation of our support centre facilities
to a more cost effective footing. The Directors are confident that they will
reduce the Group's annualised cost base to below 20m by the end of the year.
The deferral of certain cost saving actions and the investment in the
development of the mortgage proposition will delay the Group's achievement of
positive cash flow and monthly profitability until the final quarter of this
year, with the full impact of those changes coming through in 2005.
Obviously the announcement that merger talks with Berkeley Berry Birch plc have
been discontinued is disappointing however, despite their belief in the merger,
the Directors have had alternative plans in place to deal with the eventuality
that the merger could not proceed. The plans include revising the Group's
corporate structure, aimed at achieving a more efficient framework for meeting
technical regulatory requirements. The Directors are also committed to
continuing to drive the range of strategic initiatives outlined above. These
plans, which include the continuation of further cost saving initiatives, the
comprehensive mortgage strategy and the drive towards even greater technological
support to Advisers may require additional funding to secure their successful
implementation.
The Directors believe that the significant progress made by Inter-Alliance Group
is as a direct result of the exceptional hard work and achievement demonstrated
by the Group's advisers and staff.
For further information:
Keith Carby 01285 886700
Chairman & Chief Executive
Inter-Alliance Group PLC
xmortal
- 08 Jun 2004 11:25
- 89 of 104
DIRECTORS REMOVED.
Company Inter-Alliance Group PLC
TIDM IAL
Headline Directorate Change
Released 07:00 13 May 2004
Number 6128Y
RNS Number:6128Y
Inter-Alliance Group PLC
13 May 2004
Inter-Alliance Group PLC ("Inter-Alliance" or "the Company")
Inter-Alliance announces that Phil Lockyer and Mike Achilles have resigned as
directors of the Company. By mutual agreement, this is effective from today. The
directors of Inter-Alliance would like to thank both Phil and Mike for their
contribution to the group's progress.
For further information:
Geoffrey Pelham-Lane Tel +44 (0)20 7269 7229
Financial Dynamics
xmortal
- 08 Jun 2004 11:25
- 90 of 104
RNS Number:4654Z
Inter-Alliance Group PLC
07 June 2004
7 June 2004
Inter-Alliance Group PLC AND MILLFIELD GROUP PLC in merger discussions
The Boards of Inter-Alliance Group PLC and Millfield Group PLC announce that
they are in discussions, which may or may not lead to a merger of their
companies. Discussions are making good progress and shareholders will be advised
of developments at the appropriate time.
ENDS.
xmortal
- 08 Jun 2004 11:26
- 91 of 104
WHAT IS THE MKT CAP FOR IAL? WHAT WILL BE THE BENEFITS FOR SHARE HOLDERS IF MERGERS GOES THRU? AS YOU CAN SEE A LOT OF INVESTMENT HOUSES BEING BUYING BEFORE THE MERGER WS ANNOUNCED? ANY IDEAS OR VIEWS WILL BE WELCOME.
Company Inter-Alliance Group PLC
TIDM IAL
Headline Relevant Securities
Released 08:05 8 Jun 2004
Number 5117Z
RNS Number:5117Z
Inter-Alliance Group PLC
08 June 2004
Inter-Alliance Group PLC
8 June 2004
Relevant Securities
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers,
Inter-Alliance Group PLC confirms that it has 907,895,248 ordinary shares of 1
pence in issue (ISIN GB000283113) and 78,859,451 ordinary shares of 1p each
shares under option.
Contact:
Michael Burne, Legal Director 01285 886706
Inter-Alliance Group PLC
mpw777
- 08 Jun 2004 13:59
- 92 of 104
150% of nothing is.............nothing!
xmortal
- 08 Jun 2004 14:06
- 93 of 104
wot???
cathbroadley
- 09 Jun 2004 15:20
- 94 of 104
SuHelen, i see you picked ial as one of your stocks in the stock pickers competition, have you got an up to date view on them
SueHelen
- 09 Jun 2004 15:53
- 95 of 104
Leave them well alone cath...I certainly have....delay in releasing results is putting pressure on the price.
xmortal
- 09 Jun 2004 16:20
- 96 of 104
9 June 2004
FORM SAR 3
Date of disclosure... 9th June 2004 ...
DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING
SUBSTANTIAL ACQUISITIONS OF SHARES ("SARs")
Date of acquisition... SEE ATTACHED SCHEDULE OF DISCRETIONARY SHARES MANAGED
Acquisition in........ INTER ALLIANCE GROUP PLC ............(name of company)
(1) Class of voting shares Number of shares/rights If rights over shares
(eg ordinary shares) over shares acquired acquired, as opposed
to the shares
themselves, specify
nature of rights
ORDINARY SHARES .... ..2,000,000.....shares NOT APPLICABLE
ON 7TH JUNE 2004
...N/A..........rights
(2) Resultant total holding Resultant total holding Total percentage
of voting shares (and % of rights over shares
of total voting shares (and % of total voting
in issue) shares in issue)
12,258,333...(1.35%) ...............( %) .... 1.35% ( %)
(3) Party making disclosure....... EDEN GROUP PLC .....................
(4) (a) Name of person acquiring shares or rights over shares PERSHING
NOMINEE
and, if different, beneficial owner... SEE SEPARATE SCHEDULE ...
(b) Names of any other persons acting by
agreement or understanding (see SAR 5)...... NONE ............
Signed, for and on behalf of the party named in (3) above... JOHNSON-COLE ...
(Also print name of signatory)..... WALTER JOHNSON-COLE ..................
Telephone and extension number..... 0207 509 7440 .........................
Note 1. Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding of or
acquisition by one person. Note 3 on SAR 5 requires persons who must aggregate
holdings to disclose certain disposals.
Note 2: The resultant total percentage holding of voting shares and rights over
shares is to be calculated by reference to the percentage held and in issue
outside treasury.
For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section, Tel. No: 020 7638 0129. E-mail: monitoring@disclosure.org.uk
Inter Alliance
Client Ref Client Name Nominee Qty Book Cost Purchase Date Shares
KSABBEDI Abbott Mrs E D M 700,000 15,563.13 21/07/03 500,000
08/01/04 200,000
KSBALNFI Baldock N F 700,000 15,563.13 21/07/03 500,000
08/01/04 200,000
KSBRANI Barnard Miss A T 90,000 2,425.65 08/01/04 90,000
KSCHAKJI Chandler K J 450,000 9,988.83 21/07/03 325,000
08/01/04 125,000
KSEGLCRI Eglington Mr C R J 1,000,000 8,000.00 21/07/03 1,000,000
KSGREENI Greenleaves 200,000 5,378.13 08/01/04 200,000
KSHAYDBI Burstow Mr D - SIPP 300,000 8,062.19 08/01/04 300,000
KSHAYHOBI Hobart Mr C - SIPP 260,000 6,988.57 08/01/04 260,000
KSHAYJB1 Brocklebank 150,000 4,036.10 08/01/04 150,000
KSHAYMOI Moxon Mr J W J 1,000,000 20,261.OO 21/07/03 1,000,000
KSHAYWAI Warner-Allen - SIPP 140,000 3,155.40 07/01/04 140,000
KSHILSI Hill Mrs S H 300,000 6,155.00 21/07/03 300,000
KSMACMI Mack Mr A G 2,500,000 52,994.50 21/07/03 1,250,000
05/01/04 1,250,000
KSMACNII Mack Family Children's 250,000 5,094.17 21/07/03 375,000
Tst No 1 26/05/04 (-125,000)
KSMACNZI Mack Family Children's 333,333 6,789.99 21/07/03 500,000
Tst No 2 26/05/04 (-166,667)
KSENTCNI Nettle Mrs C G 200,000 4,080.00 21/07/03 200,000
KSNOBEMI Noble Mrs E M 360,000 8,384.50 21/07/03 200,000
08/01/04 160,000
KSPPMRDI Dempster Mr R 175,000 3,571.25 21/07/03 175,000
KSWALMJI Walters Mr M J 250,000 5,097.50 21/07/03 250,000
KSWALRCI Walker Mrs R C 500,000 11,168.60 21/07/03 350,000
08/01/04 150,000
KSWALWGI Walker Mr W G T 200,000 4,080.00 21/07/03 200,000
KSWARJCI Warner-Allen Mr J C 2,000,000 19,273.50 21/07/03 350,000
10/09/03 (-350,00)
07/06/04 2,000,000
KSWHIJWI Whittle Mr J W 200,000 5,378.13 08/01/04 200,000
TOTAL 12,258,333
This information is provided by RNS
The company news service from the London Stock Exchange
END
thomsonrj
- 10 Jun 2004 19:58
- 97 of 104
After IAL's failed attempt to merge with rival BBB, I was sure there would be another attempt.
In my opinion, IAL believes that size matters in gaining more advisers to achieve critical mass and a value either on the stock market or as an acquisition, which will most likely be by a product provider. You may ask why would IAL be a target for a product provider when their major shareholders include the likes of "Gartmore" and "HBOS". I believe this is more of a defensive strategy to avoid IFAs, like IAL, falling under the control or influence of main competitors.
All major shareholders increased their holding a few months ago after BBB's merger news. I would expect the same to happen this time around, because IAL will become a takeover target if this merger goes ahead as it will be better positioned than its 6 other quoted rivals.
Basically, if this merger goes ahead IAL's shareholders will be the happiest in the stockmarket.
Oakapples142
- 14 Jun 2004 09:55
- 98 of 104
Anyone want to enlighten us why after 1.5 mil buys and no recorded sells it drops 13.6%. Does that mean the the MMs have large ampount in hand and/or a massive sell will be recorded at and of play to-day