BPC - Burns Philp and Company

[nizar]

So whats happening over at Burns Philp?...I wonder what G.Hart is up to? SP has finally broke the 1.00 mark on 9m volume. Anyone hear anything recently?

Graeme Hart is a genius

The way he purchased this company and turned it around the way he did - really quite remarkable

People used to laugh and he was a corporate joke after the masses thought he didnt do due diligence on Burns Philp before he purchased it... but boy did he prove himself...

 

[CanOz]

Trading halt....this will be interesting....whats he up to?

 

[NettAssets]

BPC gapped up straight away when the trading resumed. Would you believe i've had two small positions in BPC over the last two months. I just sold one out last week.
__________________
CrazyCanuck

Would not expect it to go much past the bid of $1.10 as its pretty well a done deal by the sound of it
John

 

[3 veiws of a secret]

I bought this share for my 3 kids @ $1.095......should of sold @ $1.16 earlier this year, but I guess its classified as a thin trading profit! :grenade:

 

[taurus]

NZ raider Hart keen to fly solo
Rod Myer
August 23, 2006

Hart, New Zealand's most prominent corporate raider since the 1980s glory days of Sir Ron Brierley, will take his empire private following a bid for minorities in Burns Philp.

Mr Hart's privately owned Rank group has bid $1.10 a share for the 42 per cent of Burns Philp it does not already own, a premium of 10 ¢ a share on where it was trading a couple of days before the offer.

The initial response to the offer was good, with 20 million Burns Philp shares changing hands and the share price closing up 0.5 ¢ at $1.09 on the day. An analyst observed that there was no impediment to the bid. "I assume it will be successful," the analyst said. "He's saying: 'I'll give you $1.10 for every $1'."

Rank came out with news of the bid in response to an inquiry from the Australian Stock Exchange about price movements in Burns Philp, which rose about 6 per cent on Monday.

Burns Philp is one of Australia's oldest listed companies.

In more recent times it has been the public vehicle for Mr Hart's signature white-knuckle, extreme-sport approach to corporate raiding. That approach turned him from a tow-truck driver into New Zealand's richest man with an estimated fortune of $2 billion.

Mr Hart now feels he can achieve his ambitions without a conduit to the sharemarket. Yesterday Rank group said it had been giving careful consideration about operating both a private and a publicly-listed company. "On balance we have concluded that it is timely to consolidate into one private structure."

Burns Philp, after troubles in the 1990s, has now sailed into calm waters. It cashed out $5 billion of Hart-era investments and its assets now consist of $2.4 billion in cash, a stake in Goodman Fielder, and a few sundry exposures.

To control Burns Philp, Mr Hart will effectively outlay $1.3 billion and end up with $1.1 billion in cash.

Arthur Lim, research chief with Macquarie Equities in New Zealand, said the offer looked positive for Burns Philp. He said shares had drifted to 90 ¢ in recent months because shareholders feared Mr Hart might lead it on a high-risk venture.

Burns Philp surprised the market in 2003, paying $2 billion for food group Goodman Fielder, a company twice its size. Late last year Mr Hart sold Goodman at a tidy $200 million profit.

But Mr Lim said Mr Hart appeared to be gaining confidence and was likely to be finding the difficulty of carrying shareholders along with him on his raids not worth the effort.

It was significant that he had chosen to carry out his $3 billion takeover of Carter Holt Harvey last year through Rank rather than Burns Philp. "Graeme Hart prefers to deal outside the public limelight," Mr Lim said.

Ratings agency Standard & Poor's placed Burns Philp on credit watch following the offer yesterday.

theage.com.au
http://www.theage.com.au/articles/2006/08/22/1156012541952.html

 

[Jay-684]

can anyone tell me th eprice of BPC shares as at 17th of Aug 2004?

 

[3 veiws of a secret]

Are you refering to 2006 or 2004.....if 2004 ......and this is from memory it might be close to 35cents.......

 

[Jay-684]

Are you refering to 2006 or 2004.....if 2004 ......and this is from memory it might be close to 35cents.......

I'm referring to 2004 and it is closer to 65-75 cents, but I require an exact closing price

cheers

 

[scranch]

open,.67;hi,69;lo.67;close.67,v3001th
17/8/04
brian

 

[3 veiws of a secret]

Having problems with westpac like many others are -I did manage to see BPC sellers @ $1.11 was it a digital illusion ? was the Rank Group takecover unsuccessful?

 

[vicb]

BPC selling at $1.11.
I think rank have about 96% at $1.10. So they will be successful with the take over.