Hanson demerger: unravelling Hanson Peps

Article Abstract:

Hanson is seeking approval for the final phase of its demerger which involves the hiving off of Energy Group. Investors in UK personal equity plans (Peps) have to take steps to adapt their paperwork, though the procedure is relatively simple. Millennium Chemicals, which has taken Hanson's chemical activities, cannot be included in a Pep, though Imperial Tobacco, which has taken on Hanson's tobacco interests, can be included. Single company Peps can include shares of more than one company after a demerger.

Diversified Companies

---

Few favour Hanson

Article Abstract:

Hanson is a conglomerate which has not performed especially well in the 1990s. Investors are concerned about large provisions, cyclical earnings, and problems with cash flow. Lehman Brothers is the most optimistic of a sample of stockbrokers, and sees the share price as having fallen too far. Williams de Broe is concerned about provisions, and Grieg Middleton is concerned about the company's short-term share price, but is more optimistic about the long term.

---

Hanson bits evaluated

Article Abstract:

Hanson plans a demerger and this has aroused interest in the value of Hanson's parts. Four analysts from a sample of six rate the shares a hold while two rate the shares a buy. The buyers are BZW which sees many of the new companies as likely to join the FT-SE 100 index, and Salomon Brothers which sees Hanson's electricity side as attractive. Holders include Merrill Lynch which is encouraged by interim results reported in May 1996, and Panmure Gordon.

Hanson PLC

Similar abstracts:

• Abstracts: Launches target wary investors. New launches require patience
• Abstracts: Transport: buses braced for shake-up. Cowie takes on bus barons. Buses in need of new routes
• Abstracts: Hong Kong: nagging worries. China/Hong Kong: the next stage
• Abstracts: Who will foot the 11 billion pounds sterling pensions bill? Steer clear of the life insurers' hall of fame
• Abstracts: Stockbrokers prepare for millenium push. Stockbrokers in the north-west: keeping the flags flying

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.