Stuart Fraser
Stuart Fraser
bid bit deals debt few financing interest management people pressure quite rates rejects seen walk
We have seen quite a few people walk away from deals after the management rejects it. Interest rates are going up. Debt financing is costing more, so that's going to put a bit of pressure on what people can bid for.
capital concern fewer investment less
The concern is there'll be less capital investment and fewer buybacks.
admittedly background bit christmas confidence good inflation numbers oil price rally seen sticking stronger
The background has been encouraging so I don't think it's just a Christmas rally to expire completely in January. We've seen good confidence numbers from the U.S. and Germany, stronger growth, inflation well contained. The oil price is admittedly sticking a bit around $60 but it isn't going up anymore.
balance leverage overcome sheets size
Size and leverage and balance sheets will overcome the protectionism.
flavor graveyard instant investors market massive operation small wants
The U.S. has been a graveyard for U.K. retailers, so investors are a little cautious. It could be that it wants to a get a flavor for the market through a small operation and then make a massive acquisition to get instant size.
good start targets uk
We've had a good run, particularly in the UK and Europe, we've had a good start to this year. Most people's (year) targets were for 6,000.
growth technology
Technology is here to stay. There is long-term growth in the industry.
best clearer company control focusing gives pest view
This is encouraging because it gives a clearer view of where they want to be. With pest control they're focusing on what they do best and where the company began.
aggressive enterprise larger looking money punch returning thinks
Punch thinks they can still do these larger takeovers, and Enterprise is looking at disposals and returning money to shareholders. Punch is the more aggressive player.
betting cash flow possible strong
Private-equity firms like strong cash flow and you have that in a betting operation. I think they want to get in there before a possible IPO.
ahead disagree itself market people
I disagree with people who think that the market got ahead of itself and that there will be a sell-off,
business dubai global growth investment strategic
Ports are a growth business on a global scale. For Dubai it would be a strategic investment for the long-term.
bid business fist knocked management might needs nice otherwise parts
It's a nice price, but there might be some other parts of the business to be knocked off too. The management needs to make a fist of its strategy. Otherwise we'll see some bid activity.
concern entered management plenty
It only just entered China, and there's plenty to do there, so there's concern the management may get stretched.