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Greencore shares, Why did they rise???

  • 05-07-2006 4:25pm
    #1
    JohnnySideburns
    Closed Accounts Posts: 162 ✭✭


    Hi,

    I have read the below article stating that Greencore shares have risen 10% after a block sale of 22% of the company. Does anyone know the exact reason why this would cause a share price rise. Is it that the market is speculating the new owner is planning a company buyout?

    Thanks in advance

    http://www.rte.ie/business/2006/0705/greencore.html


Comments

  • #2
    Hitchhiker's Guide to...
    Registered Users, Registered Users 2 Posts: 3,323 ✭✭✭Hitchhiker's Guide to...


    Not sure, but the reason could be that they were all bought by one particular buyer, who is speculated to want to buy the whole company.

    Greencore are in quite a good position, with falling debt and good property assets - could be in play. Hence the fact that the shares were sold at a price above the normal trading price.

    I'd hold on to them personally, but i'm not a qualified financial advisor, so don't let that influence your own personal thinking.

    There should be more info in the Irish Times tomorrow (or the indo)


  • #3
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Roundtower2 wrote:
    Not sure, but the reason could be that they were all bought by one particular buyer, who is speculated to want to buy the whole company.

    Greencore are in quite a good position, with falling debt and good property assets - could be in play. Hence the fact that the shares were sold at a price above the normal trading price.

    I'd hold on to them personally, but i'm not a qualified financial advisor, so don't let that influence your own personal thinking.

    There should be more info in the Irish Times tomorrow (or the indo)

    Liam Carroll bought them, me thinks he's looking to get a hold of some their landbank and develop it. AFAIK Greencore have a good wad of land near carlow town, could be prime dev land for a shopping centre. If I had greecore shares I wouldnt hold on to them long term, but short term there is some scope for money to be made.


  • #4
    JohnnySideburns
    Closed Accounts Posts: 162 ✭✭JohnnySideburns


    stepbar wrote:
    AFAIK Greencore have a good wad of land near carlow town, could be prime dev land for a shopping centre.

    I'd say the land you're talking about is the Irish Sugar factory that closed down just off the ring road on the road to Athy. Not a developer, but it does strike me as a good site for a drive to out of town shopping mall in terms of size and location.


  • #5
    Hitchhiker's Guide to...
    Registered Users, Registered Users 2 Posts: 3,323 ✭✭✭Hitchhiker's Guide to...


    yep, i used to live in Carlow - it is a great site that the sugar factory is on.


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