Hostile American takeover bid for First Group.

Vehicle and Fleet discussions for First Midland Red Buses Limited or its predecessor, Midland Red West Limited.
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TimBrown
Posts: 297
Joined: 05:59 Monday 4th July 2016
Location: Worcester

Hostile American takeover bid for First Group.

Post by TimBrown » 12:05 Thursday 12th April 2018

This snippet in today's Daily Mail Business section.

Apparently Apollo Global Management have a reputation for asset stripping ailing unprofitable companies and putting them on a sound financial footing - at least whatever is left of them.
American venture capital investor wants First Group.jpg

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AdamH
Posts: 1110
Joined: 12:17 Sunday 3rd July 2016
Location: Worcester

Re: Hostile American takeover bid for First Group.

Post by AdamH » 14:03 Thursday 12th April 2018

I noticed the shares price had gone up!

MattW
Posts: 458
Joined: 20:42 Sunday 3rd July 2016
Location: Welland

Re: Hostile American takeover bid for First Group.

Post by MattW » 19:38 Thursday 12th April 2018

AdamH wrote:
14:03 Thursday 12th April 2018
I noticed the shares price had gone up!
Can you retire yet? :lol:

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AdamH
Posts: 1110
Joined: 12:17 Sunday 3rd July 2016
Location: Worcester

Re: Hostile American takeover bid for First Group.

Post by AdamH » 02:25 Friday 13th April 2018

I sold all of mine years ago when they were still worth something!

MattW
Posts: 458
Joined: 20:42 Sunday 3rd July 2016
Location: Welland

Re: Hostile American takeover bid for First Group.

Post by MattW » 18:57 Friday 13th April 2018

AdamH wrote:
02:25 Friday 13th April 2018
I sold all of mine years ago when they were still worth something!
:lol: :lol: :lol: :lol: :lol:

TimBrown
Posts: 297
Joined: 05:59 Monday 4th July 2016
Location: Worcester

Re: Hostile American takeover bid for First Group.

Post by TimBrown » 09:12 Saturday 14th April 2018

Hands off the First Group Pension Fund. I thought that recent legislation made Pension Funds the property of the pension holders held in trust and administered by the Trustees. It seems that funds are still vulnerable to unscrupulous employers!

I only receive about £34 per week from my pensions earned and paid for during two stints of bus driving, not a lot but that represents about 15% of my total income at present and is the difference between paying ever increasing bills and struggling to meet commitments.

The attached snippet was extracted from yesterday's Daily Telegraph Business Section; the comment on page 4 centred on whether to allow a private equity company with no experience in running a railway anywhere near the two very large franchises run by First Group at present i.e. GWR (Great Western Railway) and South Western Railway, particularly following the recent debacle with Virgin/Stagecoach declaring such heavy losses they are unable to fulfil promises on the East Coast Main Line franchise.
Pension problems looming.jpg

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