SABMiller prepares new assault on Foster’s August 10, 2011 Global brewer SABMiller is set to renew its assault on Australian bid target Foster’s later this month with a slightly higher offer likely to succeed after rival bidders fail to appear, bankers and investors told Reuters. The London-based brewer will wait for Foster’s full-year results on 23 August, which will make dismal reading with beer [...]
BEST OF THE BROKERS August 8, 2011 HOME RETAIL GROUP Nomura rates the owner of Argos and Homebase as “reduce” with a target price of 130p, and reduces its full-year forecatss for the group by around 16 per cent. The broker sees profits of £137.4m for February 2012, with like-for-like first half sales at Argos down nine per cent, given tough World [...]
Thomas Cook in top shorted stocks after profit warning August 1, 2011 THOMAS Cook made a surprise entry into the UK’s top ten most shorted stocks by the end of July after it issued its third profit warning in a year, according to Data Explorers. The embattled holiday operator had more than ten per cent of its shares out on loan by 28 July after it warned [...]
More shop chains winding up July 24, 2011 THE number of retail companies which plunged into administration in the second quarter of this year increased by eight per cent compared with same period last year, according to figures from Deloitte. A total of 43 were affected, with household names like Oddbins and Focus being hit by the downturn in consumer spending. Moben, Habitat [...]
CITY VIEWS: ARE YOU WORRIED ABOUT THE DEFICIT? July 21, 2011 RICHARD SMART | ARGO INSURANCE “Yes, I am worried. But given the precarious economic climate, I feel Osborne is doing an admirable job, and I think we should appreciate how unfair it is that he is left cleaning up the mess caused by our previous government.” REMCO VAN EEUWIJK | MN SERVICES “I am not [...]
BEST OF THE BROKERS July 21, 2011 ABERDEEN ASSET MANAGEMENT Singer Capital rates the fund manager a “buy” with a 275p target price ahead of its third-quarter results, which are expected to show a one per cent rise in assets under management and a strong upward trend in revenue margins as its asset mix shifts towards higher margin equity pooled funds. Singer [...]
Andy Hornby eyed for Coral June 26, 2011 ANDY Hornby, the former chief executive of Alliance Boots, has been named as a frontrunner for the top job at Coral, the bookmaker. Hornby, 44, stood down from Alliance Boots, owner of the high street chemist, in March, after saying he needed “a few months’ break”. However, according to weekend reports, he is tipped to [...]
Home Retail buys slice of Habitat for £24.5m June 24, 2011 Home Retail Group has announced that it has bought parts of the Habitat chain for £24.5m. The Argos and Homebase owner has bout the rights are for the exclusive use of the Habitat brand, its brand designs and intellectual property in the UK and the Republic of Ireland. It has also acquired the Habitat UK [...]
Home Retail Group looks to bid for Habitat stores June 23, 2011 HOME Retail Group, the owner of the Argos and Homebase retail chains, is in talks to buy Habitat. The luxury furnishings company is now owned by restructuring specialist Hilco. It has 71 stores worldwide, including 35 in the UK, 26 in France, five in Spain and five in Germany, employing 2,100 staff. It is understood [...]
Foster’s rejects £6.2bn bid from SABMiller June 21, 2011 Foster’s Group rejected a A$9.5bn (£6.2bn) cash takeover offer from global giant SABMiller as too low, but investors were betting Australia’s largest brewer would succumb to a slightly higher offer. Foster’s, one of the last big prizes in a consolidating global beer market, has high margins and a 50 per cent market share in Australia, [...]