Bid interest helps shares
Article Abstract:
Takeover speculation has helped Wickes' share price after trading restarted in Jan 1997. Wickes was suspended due to a scandal relating to false profits in Jun 1996. The share price dropped by more than half but stayed higher than a price paid in a rescue issue in Dec 1996. The company still has debts of over 100% of its net assets, but commands loyalty from suppliers. RMC and Kingfisher are seen as possible bidders for Wickes. The company could report a pre-tax loss of 21.5 million pounds sterling for 1996 and may not achieve a profit for 1997.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Kingfisher drills into French DIY market
Article Abstract:
Castorama is to be merged with Kingfisher's B and Q do-it-yourself products retail chain. The new company will be the largest in the sector in Europe and will rank third world wide. Kingfisher will benefit from greater buying power and pricing anomalies between stores in different parts of Europe can be tackled. Kingfisher was not able to buy Castorama directly due to the reluctance of the Dubois family to sell their stake in the company, and the deal has a complex structure.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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Crackdown
Article Abstract:
UK companies selling penny stocks will be subject to new regulations from the Personal Investment Authority from Sep 1 1997. City Equities has been fined for not explaining risks to clients. These companies purchase stocks in blocks which are then sold to private investors. The stock price may be low, but costs may be high, and the rule changes will include an obligation to explain the spread. Some brokers do not expect an improvement despite the rule changes.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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