TSB takeover approach

Aquamania

colsten wrote: »

Seems you missed the TSB float last June. http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10913722/TSB-shares-soar-on-debut.html

I think you'll find that was Hobson's choice when the proposed sale to the Co-Op fell through.
(Lloyds were not allowed to keep it)

Aquamania

Paul_1977 wrote: »

I know nothing about how business works, what happens to the shares if they buy TSB, I have a grand worth.

callum9999 wrote: »

You'll get given £3.40 for each TSB share you have then you'll have nothing to do with them any more.

Depending on what you mean by "I have a grand worth" (the prices constantly vary - when were they worth a grand?), you'll probably find you get something like £1300.

You may want to consider selling them today

Current price is about 327.5p per share.

Yes that's 12.5p less than you would get if the deal goes through, but there is no guarantee it will do. If the deal falls though, the share price will plummet - it rose about 23% yesterday on this news.

A bird in the hand ...

colsten

Aquamania wrote: »

I think you'll find that was Hobson's choice when the proposed sale to the Co-Op fell through.
(Lloyds were not allowed to keep it)

What are you on about? The history of it is totally irrelevant. TSB has been floated and is a plc, registered in Scotland, no. SC95237. End of.

Paul_1977

Aquamania wrote: »

You may want to consider selling them today

Current price is about 327.5p per share.

Yes that's 12.5p less than you would get if the deal goes through, but there is no guarantee it will do. If the deal falls though, the share price will plummet - it rose about 23% yesterday on this news.

A bird in the hand ...

They are "offline" if that makes sense, I only have them on paper now, as I assumed I would not need to sell them for some years.

I am confident it will go through, they seem to talking as if it will. Never know with these banks.:j

Aquamania

Paul_1977 wrote: »

They are "offline" if that makes sense, I only have them on paper now, as I assumed I would not need to sell them for some years.

I am confident it will go through, they seem to talking as if it will. Never know with these banks.:j

Yes, you mean certificated shares.

Still the odd stockbroker will deal with them if you have an account. (Usually on a T+10 basis)
Or I think you can still sell them through the odd bank (Not sure if TSB offer this service)

Otherwise you have to send the certificate off and then you only get the price on day they are actually sold ... which could be anything.

If you do have a stockbrober account, you could sell on a T+10 basis today, and it'll probably be all agreed within 10 (working) days, so if the deal doesn't go through, you could settle the deal by buying them back at a lower price - easy money.
Same shares, same certificate - plus money in your pocket.

I know you say you hope to hold them for a long time, but if the deal does go through, you won't be able to anyway.

Aquamania

colsten wrote: »

What are you on about? The history of it is totally irrelevant. TSB has been floated and is a plc, registered in Scotland, no. SC95237. End of.

My response relates to the comment you first reponded to

i.e. "Lloyds would rather sell TSB than float it off as a UK plc, that is clear."

Despite the IPO (which as I said seemed to be as a result of Hobson's Choice), Lloyds Banking Group still owns 50% of TSB ... which they are expected to dispose of.

Paul_1977

I have just received quite a thick book annual report and accounts from TSB.

Right on the front.

"We provide local banking for Britain....

That's it, full stop"

I guess they still will if the deal goes through, but its not the same.

The first annual general meeting of the TSB group will take place on the 22nd of April, first and last most likely.

Archi_Bald

Paul_1977 wrote: »

I have just received quite a thick book annual report and accounts from TSB.

Right on the front.

"We provide local banking for Britain....

That's it, full stop"

I guess they still will if the deal goes through, but its not the same.

Why should it change? Have you read anything that says the takeover changes the strategy of TSB away from local banking for Britain?

Paul_1977

Archi_Bald wrote: »

Why should it change? Have you read anything that says the takeover changes the strategy of TSB away from local banking for Britain?

As I said "I guess they still will".

But if its owned by the Spanish, its not exactly local.

Herbalus

Paul_1977 wrote: »

As I said "I guess they still will".

But if its owned by the Spanish, its not exactly local.

Santander UK plc is an English/British bank. It's owned by a Spanish parent company, but is regulated here, ring-fenced, and completely British. They are separate entities.