| Latest Forum Topics / Neptune Orient L Rg |
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Fabchem
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sgng123
Supreme |
01-Dec-2015 14:52
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Not really done, CMA had to give a hard to resist offer that would satisty both temasek and CPF investors who stuck with higher price. Offering low price most likely would be rejected by both temasek and CPF retail investors. Currently temasek wanna make sure CMA got the financial backing before they made a bid, NOL is not cheap cheap can bid. This might drag till next monday as current market sentiment no so good for banks to give credit. Maybe nippon would strike next week after CMA fail to offer bid cos they got unlimited financial power and japanese bank willingness to lend. |
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rlong8288
Master |
01-Dec-2015 14:19
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look like is a done deal... if the highlight is correct
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WanSiTong
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01-Dec-2015 13:53
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Highlight CMA CGM said to seek financing for NOL takeover NOL shares up 2.1% December 1, 2015: 12:59 PM CMA CGM SA, the world' s No. 3 container shipping company, is in talks with lenders to finance its potential takeover bid for Singapore' s Neptune Orient Lines Ltd. (Valuation: 0.90, Fundamental: 0.75), people with knowledge of the matter said. The French shipping company is in discussions with banks including BNP Paribas SA, HSBC Holdings Plc (Valuation: None, Fundamental: None) and JPMorgan Chase & Co. for loans to back an offer for Neptune Orient, the people said, asking not to be identified as the information is private. Under the city-state' s takeover code, CMA CGM should demonstrate it has sufficient financial resources before making a definitive bid for Neptune Orient, which has a market value of $ 3.1 billion. Buying Neptune Orient would help Marseilles-based CMA CGM consolidate its position in the global container market as it competes with AP Moeller-Maersk A / S and Mediterranean Shipping Co. CMA CGM is seeking a combination with its Singaporean rival as shipping companies struggle to revive earnings amid a glut of vessels, shrinking demand and declining rates. " It may not be a done deal yet, but CMA needs to demonstrate they have the financing capability to go ahead," Soo Hai Lim, a Hong Kong-based money manager at Baring Asset Management (Asia) Ltd., said by phone Tuesday . " They should be able to get some synergies from this acquisition. Consolidation should be good for the industry." Shares of Neptune Orient rose 2.1% to $ 1.21 at 11:46 am in Singapore. Exclusive talks Neptune Orient and its controlling shareholder, Temasek Holdings Pte, said last month they are in exclusive talks with CMA CGM. The French company has until Dec. 7 to complete due diligence and negotiate a definitive offer. Temasek, Singapore' s state-owned investment firm, owns about 67% of Neptune Orient, data compiled by Bloomberg show. CMA CGM, which employs more than 22,000 people worldwide, has about 470 vessels plying 170 shipping lanes, according to its website. Its main hubs are Malta, the Moroccan city of Tangier, Khor Fakkan in the United Arab Emirates, the Jamaican capital of Kingston and Malaysia' s Port Klang. The company, set up in 1978, is controlled by the family of founder Jacques Saade. A representative for CMA CGM said the company is " unable to disclose specifics when discussions are ongoing." Spokesmen for HSBC, Neptune Orient and Temasek declined to comment, while representatives for BNP Paribas and JPMorgan said they could not immediately comment. |
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AndyLoss
Master |
01-Dec-2015 12:28
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http://www.kinibiz.com/story/singapore/203620/cma-cgm-seeking-funds-for-neptune-orient-takeover.html | ||||
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AndyLoss
Master |
01-Dec-2015 12:15
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is not it too late for them to seek Financing at this stage, there are hardly 5 days left for them to close. where is the hehehe guy ?? have not seen him..for the past 4/5 hrs...has he disappeared now :D | ||||
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shadow
Veteran |
01-Dec-2015 12:12
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Updated on December 1, 2015 &mdash 10:43 AM SGT
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sgng123
Supreme |
01-Dec-2015 12:06
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Everyone still remember when NOL building and APLL up for sale, every brokerages/analyst would say it would be sold for such and such price. Then NOL would shock them with a higher than what is expected bid price, those brokerages/analyst are useless in anticipating M& A deal. U need a proper bank evaluator to do due diligence on NOL hidden asset instead depending on share market capitalisation and cover up balance sheet. Ship is a treasure trove full of gold and silver all lying under a cover of mud lol. |
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f16force
Senior |
01-Dec-2015 12:04
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Well done! |
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AndyLoss
Master |
01-Dec-2015 12:03
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link is not working..
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JDAmateur
Member |
01-Dec-2015 11:50
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https://sg.finance.yahoo.com/news/cma-cgm-said-seek-financing-024341061.html |
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dealingroom88
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01-Dec-2015 11:40
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Neptune Orient Lines (NOL SP) HOLD Price/Tgt: S$1.20 / S$1.06 Mkt Cap: US$2,216.0m 52-wk avg daily value: US$6.7m 1-Yr Hi/Lo: S$1.23/S$0.77 CMA CGM Said to Seek Bank Financing for Neptune Orient Takeover Analyst: Foo Zhiwei Tel: (65) 6590 6626 What&rsquo s New? - Bloomberg just reported that CMA CGM is in talks with banks JPM, HSBC and BNP on financing for a NOL takeover deal. Our Take - It appears that CMA-CGM is serious about the deal. - As Temasek holds 67% of NOL' s shares, an offer from CMA-CGM will likely result in a general offer. According to market talks, Temasek would not likely sell below book value of S$1.36 per share. - Market rumors place the offer range at S$1.30 - S$1.40. CMA-CGM' s exclusivity for the NOL deal has a deadline of 7th Dec 2015, 2359 hrs. - While some upside exists if the offer materializes, we caution the substantial downside risk if the deal falls through. NOL' s share price has rallied 25% since 2 Nov, while current upside assuming a S$1.30-S$1.40 offer is only 8-16%. Valuation/ Recommendation - Our current recommendation is HOLD, with a fundamental target price of S$1.06 based on 0.8x 2016F P/B. The poor container shipping market outlook weighs negatively on NOL' s core liner business, which continues to suffer from even lower freight volumes and freight rates. With the world number one Maersk signalling an even weaker outlook for container shipping next year, a recovery in container shipping looks unlikely and NOL' s earnings are likely to continue into further losses or breakeven at best. |
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mrwise
Supreme |
01-Dec-2015 11:29
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Breaking up to higher high!!
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sp71171
Member |
01-Dec-2015 11:29
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i think there is no need for too much speculation. the bet is just deal or no deal. if deal, obviously px will be in excess of 1.3. no deal, then back to below 1. while i believe there are open shorts, i don' t think there are too many bb take new positions, whether long or short. all these movements now are used to trick retail investors to come in or exit. your call, guys. |
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lglg666
Supreme |
01-Dec-2015 11:23
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Support your view lol
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mrwise
Supreme |
01-Dec-2015 11:20
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Big UP movement v soon! | ||||
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lglg666
Supreme |
01-Dec-2015 11:18
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Wah.....wild swing up and down. | ||||
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sgng123
Supreme |
01-Dec-2015 10:43
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1.21 now is the cover position for longist and shortist stuck there for like some time, when clear the retail covering would move higher. |
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newbie24
Veteran |
01-Dec-2015 10:40
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Exciting showing for NOL the past two weeks. With the deal closing in any time soon, those who are skeptical are really taking a much bigger risk than those who are holding on to concrete shares.. Shortists who still dare to short... SALUTE! |
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mrwise
Supreme |
01-Dec-2015 10:37
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Pushing higher and higher..
Cannot stop now...
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sgng123
Supreme |
01-Dec-2015 10:35
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trading halt = end of shortist human life massive losses. From various reports we know temasek would not sell cheap and buying NOL would most likely more than double CMA current debt of US$3.3B. What all this pointed is asset value of NOL is very high, very good luck to whoever shorting and had not covered yet. THis week the bulls are on the rage as per norm since Dec and Jan is bull months. |
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