Hanson demerger: unravelling Hanson Peps
Article Abstract:
Hanson is seeking approval for the final phase of its demerger which involves the hiving off of Energy Group. Investors in UK personal equity plans (Peps) have to take steps to adapt their paperwork, though the procedure is relatively simple. Millennium Chemicals, which has taken Hanson's chemical activities, cannot be included in a Pep, though Imperial Tobacco, which has taken on Hanson's tobacco interests, can be included. Single company Peps can include shares of more than one company after a demerger.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Few favour Hanson
Article Abstract:
Hanson is a conglomerate which has not performed especially well in the 1990s. Investors are concerned about large provisions, cyclical earnings, and problems with cash flow. Lehman Brothers is the most optimistic of a sample of stockbrokers, and sees the share price as having fallen too far. Williams de Broe is concerned about provisions, and Grieg Middleton is concerned about the company's short-term share price, but is more optimistic about the long term.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Hanson bits evaluated
Article Abstract:
Hanson plans a demerger and this has aroused interest in the value of Hanson's parts. Four analysts from a sample of six rate the shares a hold while two rate the shares a buy. The buyers are BZW which sees many of the new companies as likely to join the FT-SE 100 index, and Salomon Brothers which sees Hanson's electricity side as attractive. Holders include Merrill Lynch which is encouraged by interim results reported in May 1996, and Panmure Gordon.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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