Discussion in 'General Board' started by julian, Oct 2, 2007.
£1.30 ps this morning I paid £1.90 two weeks ago someone save them!
a friend of mine did the same a couple of weeks ago... good job he's on holiday now!
still, probably a bit undervalued and *should* be offered more if a takover happens. If not then with the new savings regulations probably a good 3-5year punt.
Braver man than me!
Dont touch shares anymore.
Better backing yourself with the money on ventures.
When companies go tits or things go awry, the bondholders and company directors do just fine, the basic shareholders always get shafted.
You're better of backing a horse.It's quicker, to win or lose. :-D
Mind you that's bent as well, sometimes.
If only i'd waited until they got as low as £1.90 before I bought !
what did you pay - it will make me feel better :mrgreen: ?
£3-01 and could have taken £100 profit at one point!
03 Oct 2007 - 08:53
(Rewrites with share price, Northern Rock comment, details)
LONDON, Oct 3 (Reuters) - Shares in Northern Rock jumped more than 14 percent on Wednesday after reports private equity group JC Flowers has secured 15 billion pounds ($30.6 billion) of funding which could be used for a takeover.
Northern Rock, Britain's fifth-largest mortgage lender, has been engulfed in crisis since it was offered emergency funds by the Bank of England last month. It has lost more than 80 percent of its market value since the start of September.
Shares in the bank were up 8.7 percent at 0740 GMT, trading at 147.4 pence -- off lows of 112 pence touched on Tuesday but 88 percent below the year's high of 1,258 pence.
Citing no sources, the Financial Times said on Wednesday that JC Flowers was interested in keeping Northern Rock as a whole entity -- rather than parcelling off assets -- and already had funding commitments from major banks to help it refinance cash Northern Rock will have to raise in the next year.
The paper said JC Flowers, the buyout group founded by former Goldman Sachs banker Chris Flowers, was due to meet Northern Rock's advisers for talks.
"As we have said, we are exploring a number of options but we can't comment further at this stage," a Northern Rock spokeswoman said.
Several bidders have expressed an interest in Northern Rock since its troubles began last month, but most have since pulled out. U.S. fund Cerberus has also been named as a suitor but has made no public comment.
Speculation on the bank's future has been rife for two weeks as regulatory and political pressure increases on all parties to find a swift solution to the debacle, stem losses and curb the destabilising effect on the rest of the sector.
A trade sale of the bank in its current form is seen as increasingly unlikely, and analysts say they now expect Northern Rock to be wound down and possibly parcelled off to more than one buyer.
"The business is almost certainly going to be taken out or split into parts, so ultimately the question is what price is it worth," said James Hamilton, analyst at Numis.
"The best price for equity shareholders will arrive if there are multiple people interested in acquiring it. I suspect that as the general quality of the assets is pretty good there will be competing bids for various parts of the group, if not for all of it."
JC Flowers was not immediately reachable for comment. (Additional reporting by Steve Slater, Elena Moya and Tim Pearce) ((Reporting by Clara Ferreira-Marques;
Editing by Quentin Bryar
Telephone: +44 207 542 3214))
Looks like your wish is coming true, one of us is in profit..
I so nearly bought anothe rload when they wen tto 135p
I knew I should have done... maybe.. its just glorified gambling really
google shares $600!!! if only i had a time machine!
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