Richard Ratner
Richard Ratner
management people sure
Management is going to have to take it. I'm sure it will go through. People will think it's mean, but the alternative would be pretty ghastly.
additional bid looks management raise unable
This looks like a knock-out bid as the management, in our view, would be unable to raise the additional finance.
accept appears clearly view
It appears done and dusted. Our view is clearly to accept the offer.
amount bought funds given huge liked prepared suspect
I suspect at the end of the day he would have liked to have bought it but with all the hedge funds in there that he wasn't prepared to pay, given trading, a huge amount for it.
agreement current disastrous given happened importance per wonder
Given the importance of Per Una to M&S, it could have been disastrous had this happened at the current time. Even so, we wonder how long the agreement will last.
although argued gone perhaps rather since
New Look has gone well since going private, although it could be argued that perhaps it is doing rather too much at once.
business clear indication looks thinks volition
It looks as if he is going of his own volition which is a clear indication of where he thinks the business is going.
deals
All the big deals have already been and gone.
anyone bulls buy cling commit funds hope market poor thinks until
It's a poor (Boots) statement. The bulls will cling to the hope of a bid, but will anyone commit significant funds to buy a retailer until one thinks that the market has bottomed?
extremely
He has done extremely well, let's not take that away from him.
develop difference high operations putting sensible town whether
It's a sensible idea to develop e-commerce. But whether putting the whole high street/out of town operations under one fascia makes any difference is a moot point.
business double five four huge next pity potential profits suspect
It would be a pity because we think there is huge potential in that business to double profits over the next four to five years, but if 40 pct of your shareholders want out, then I suspect that is what may happen.
chairman further japanese likely longer progress shares short unlikely
With the chairman off, a downgrade and the Japanese no longer likely to bid, the shares are unlikely to make further progress in the short term.
easy fruit grasp perceptive relatively whilst
Whilst much of what Stuart has done has been relatively easy fixes, at least he has been perceptive enough to grasp the low-hanging fruit -- many wouldn't know what to do,