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Aryzta

  • 27-07-2020 10:14am
    #1
    ChuckieEgg
    Banned (with Prison Access) Posts: 79 ✭✭


    I've been adding to my holding of Aryzta since last March. This once food giant is now a fraction of the Market cap it once had. The price was once €20/share.
    Too much debt in too many markets, yet it has been slowly turning the ship.
    Now it turns out that there are offers on the table to buyout the company, yet very little is know about who or how much. Currently trading at around 60 centup 20% in the last week yet this is well below the pre March slump of €1.20
    Anyone know who is after the company as there is very little info about.


Comments

  • #2
    littlevillage
    Registered Users, Registered Users 2 Posts: 3,178 ✭✭✭littlevillage


    ChuckieEgg wrote: »
    I've been adding to my holding of Aryzta since last March. This once food giant is now a fraction of the Market cap it once had. The price was once €20/share.
    Too much debt in too many markets, yet it has been slowly turning the ship.
    Now it turns out that there are offers on the table to buyout the company, yet very little is know about who or how much. Currently trading at around 60 centup 20% in the last week yet this is well below the pre March slump of €1.20
    Anyone know who is after the company as there is very little info about.

    Some discussion from an older thread

    https://touch.boards.ie/thread/2057835473/5/#post108624520


  • #3
    Kickstart1.3
    Banned (with Prison Access) Posts: 186 ✭✭Kickstart1.3


    https://www.independent.ie/business/canadian-bakery-giant-george-weston-ltd-is-exploring-a-potential-deal-to-buy-aryzta-39411300.html

    Canadians are in the mix now,
    Current Mcap is ~€620 million. Can't see a deal being done for any less than double that figure. Two other parties also are yet to reveal themselves but I'm guessing Nestlé are lurking about too.
    Its astonishing that with revenues in excess of 3.7 Billion that they ended up in there current position.


  • #4
    Kickstart1.3
    Banned (with Prison Access) Posts: 186 ✭✭Kickstart1.3


    Decent rise today,looks like it may well be heading back above the 1 euro


  • #5
    ChuckieEgg
    Banned (with Prison Access) Posts: 79 ✭✭ChuckieEgg


    Kickstart1.3 wrote: »
    Decent rise today,looks like it may well be heading back above the 1 euro

    Its onward and upwards of late. Liquidity improved by 45 million to 415 million. Revenue was only 18% lower in the month to date so this was a surprise as the market had priced in much worse results.
    Still no announcement on the takeover offers but they will be legally obliged to inform the market at some point soon


  • #6
    ChuckieEgg
    Banned (with Prison Access) Posts: 79 ✭✭ChuckieEgg


    Roaring ahead this morning, nothing announced yet but news must be near.
    Any takeover offer is going to be at a premium to the current price.


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  • #7
    Cute Hoor
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭Cute Hoor


    ChuckieEgg wrote: »
    Roaring ahead this morning, nothing announced yet but news must be near.
    Any takeover offer is going to be at a premium to the current price.

    https://www.bloomberg.com/news/articles/2020-08-28/elliott-is-said-to-weigh-bid-for-struggling-swiss-baker-aryzta


  • #8
    ChuckieEgg
    Banned (with Prison Access) Posts: 79 ✭✭ChuckieEgg


    Up to 75c now as US hedge fund Elliott about a potential tender offer for the entire company. Can't see them getting the whole company for anything less then €1.35/share which is still far less than the break up value of the company


  • #9
    Kickstart1.3
    Banned (with Prison Access) Posts: 186 ✭✭Kickstart1.3


    Great call, up another 15% today


  • #10
    ChuckieEgg
    Banned (with Prison Access) Posts: 79 ✭✭ChuckieEgg


    Another board member bites the dust, we must be near the end now.
    EGM today.
    Must be insider knowledge about as the share price has jumped again this morning and still no news


  • #11
    TiGeR KiNgS
    Registered Users, Registered Users 2 Posts: 1,435 ✭✭✭TiGeR KiNgS


    It would be so stupid to sell this company now. Middle of a turnaround and general pricing issues in the stock market.

    Underlying assets are great ... i.e customer list and infrastructure, brand names.

    All they need to do is sort out the capital structure with asset sales (admitably some of the assets sales seem to be at fire sale prices !!! ... need to do better here) and wait 5 years for the debt load to burn off. Then look at further building on there Asia footprint, above trend growth potential there. Definitely downsizing NA is the way to go for this company and repointing to Asia.

    Their on the right track just need to execute, selling now would be so bad for shareholders.


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  • #12
    Cute Hoor
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭Cute Hoor


    This could have been the ultimate buy the rumour sell the news, today will probably tell a lot


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