Richard Ratner
Richard Ratner
cent fifty per unless
Unless it has fifty per cent off or more, it is not selling.
below board group per price rejected share since surprised valued
The price is below our expectations, since we valued the group at up to 210p per share and so we are not surprised the board has rejected it.
christmas people talking uk worse
We thought they'd had a worse Christmas than most people expected. They had a better Christmas, and they're talking about UK GAAP at the upper end of the range.
alan anyone bid doubt question run whether
The question must be ... whether anyone could run it better than Alan Giles. Thus, there must be some doubt as to a bid emerging.
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.
emergency heard managers meeting
We've heard there is an emergency managers meeting today.
anyone bid question whether
We question whether anyone will bid for the company.
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.
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.
accept appears clearly view
It appears done and dusted. Our view is clearly to accept the offer.
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.
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.
extremely
He has done extremely well, let's not take that away from him.
ceiling competition fierce million next pounds value worry year
We still worry about next year, with fierce competition at the value end of the market, and...still look for a ceiling of around 800 million pounds on (fiscal year profits).