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jamesontheroad
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LH To Sir Michael Bishop: Name Your Price For BD

Fri Apr 27, 2007 11:55 pm

Some more hot air, but another instance of LH expressing their interest in considering MB's 50%+1 shares in BD (how times change). Assuming they don't have to prise them out of his "cold dead hands" that is ...

Quote:
Open skies raises BMI's appeal
By Gerrit Wiesmann in Frankfurt and Kevin Done in London
12:10 a.m. ET April 27, 2007

Source: http://www.msnbc.msn.com/id/18337286/

German airline Lufthansa said it would consider any offer from Sir Michael Bishop, chairman and majority shareholder of BMI British Midland, to take control of the UK airline.

The end to restrictions on Europe-US flights had "finally" made Lufthansa's 30 per cent stake in the UK carrier a good bet, said Stephan Gemkow, chief financial officer.

Two years after mulling an exit from BMI, Mr Gemkow said Lufthansa would "certainly look at" Sir Michael's holding, should he want to sell his 50-per cent-plus-one-share stake.

continues...
 
JRadier
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 12:18 am

looks like LH is taking the same route as SR, a sign for things to come?
 
BlueShamu330s
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 1:13 am

SMB is the type of person to respond along the lines of "You've carped on about the so-called failings of my airline very publically over the past few years, now you want to buy me out..? Stuff you, I'll go to BA."

Sounds unrealistic, but SMB is definitely the sort of person to bear a grudge, and things said about his company are taken personally.

Having said that, if bmi were to be absorbed by BA, whilst retaining to an extent their identity, it would be a win - win situation for all parties involved; SMB gets more than adequate payoff to fund his later years at Shady Pines, bmi would operate under the banner of BA much as B-Med did, whilst BA get those lucrative slots and re-incorporate the lost BMed routes back into their schedule.

The Lufthansa deal, I would say, is far from being a front runner, as with SMB, it won't only be money that talks.

Shamu
Flying around India
 
mrniji
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RE: LH To Sir Michael Bishop: Name Your Price For

Sat Apr 28, 2007 1:16 am

LH is building an empire...  eek 
"The earth provides enough resources for everyone's need, but not for some people's greed." (Gandhi)
 
purplebox
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 1:34 am

Quoting Mrniji (Reply 3):
LH is building an empire...

...and you have only just noticed!

PurpleBox.
Next Flights:LHR-BOG,BOG-GYE,MDE-BOG-PTY,PTY-BOG-CTG,SMR-BOG-LHR - all on AV
 
Qazar
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 8:53 am

Can LH buy both BD and IB at the same time? Or would that be financial and logistical suicide?

I have always admired LH's management, at least compensating for bad inflight service, but trying to incorporate 2 new corporate cultures into their own, all at the same time...

I know they were successful with the Swiss take-over, but I just flew Swiss YUL-ZRH-JNB-ZRH-YUL and got to speak to some of the staff about the recent buy out. The Swiss are very proud people (as are the Spaniards and the British) and some of them actually denied their company being categorized as belonging to LH... one actually told me that LH just injected a few francs and that Swiss will always remain Swiss "LH isn't involved in our operations" she said... I obviously didn't see the point of opening that door with her, so I just nodded and asked for a coke! What I found really ironic is that the Swiss aircraft was equiped with LH inflight service trolleys, and she was pushing one of them when she made that comment.

I strongly believe that if any airline management team is capable of accomplishing a BD and IB take-over at the same time, LH is top of my list. But I am kind of skeptical about the financial outcome this may have... Of course I would love to see the empire that would be LH/LX/IB/BD.
 
Leezyjet
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 10:48 am

Quoting BlueShamu330s (Reply 2):
Having said that, if bmi were to be absorbed by BA, whilst retaining to an extent their identity, it would be a win - win situation for all parties involved;

I think that they would struggle to get this past the competition commission or whatever it is called these days. I certainly know of one airline that would strongly object were this to go ahead.

 Smile
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LHStarAlliance
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 7:41 pm

Quoting Jamesontheroad (Thread starter):

No please not !! They should Take over IB ...
Boycott The Olympic Games In Beijing !
 
johnnybgoode
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 8:01 pm

i have my doubts that LH is really interested in BD, even though Bermuda II will be scrapped rather soon.
now that BA shows more interest in an IB takeover, this could be part of LH's tactics:

we get IB and we'll give you BD. if you take IB, we'll give you a hard time with BD.
If only pure sweetness was offered, why's this bitter taste left in my mouth.
 
LHStarAlliance
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RE: LH To Sir Michael Bishop: Name Your Price For

Sat Apr 28, 2007 8:03 pm

Quoting Johnnybgoode (Reply 8):
we get IB and we'll give you BD. if you take IB, we'll give you a hard time with BD.

oh yea that´s a good tactic ...

[Edited 2007-04-28 13:03:29]
Boycott The Olympic Games In Beijing !
 
LXLucien
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 8:07 pm

Quoting JRadier (Reply 1):
looks like LH is taking the same route as SR, a sign for things to come?

The only difference between LH and SR is, that LH buys them and turn them to a profitable airline. LX is the best example for that, 4 years of flying without making money, then LH buys them and in a bit more then one year they made profit...

SR bought the airlines, and lost a lot of money and never turned them into profitable airlines.

I hope it won't turn to the other side and LH will be the second SR
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 8:18 pm

Quoting LXLucien (Reply 10):
4 years of flying without making money, then LH buys them and in a bit more then one year they made profit...

To be fair, a lot of what LX needed to do to turn the corner had been done before LH bought them. To be sure, LH has brought capital, stability and a strong alliance to LX but the Zurich airline was on the road to recovery before LH stepped in. Don't confuse the hubris of SR under the Bruggisser years with what followed.

As for LH buying BD outright, that seems to me the inevitable logic of the EU integrated market and open skies. LH want to be (=remain) one of the big players in Europe and internationally. They'll achieve a good measure of that through organic growth but they also need to buy their way to the top. (Think of AF buying KL.) I believe that LH is already the biggest non-British airline at LHR. Taking over BD would give them an enormous presence at what is still Europe's #1 gateway.

Until recently, BD was an investment for LH that was making paltry returns. If they owned it (and BD's LHR slots) it could become a huge money-spinner. Fold in some form of alliance with VS (though SQ & Star Alliance) in the fullness of time and LH could consider LHR a secondary hub to equal MUC and ZRH.

Frankly, it makes sense to me.
 
vv701
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 8:31 pm

If this report is true and if the recent report in the Times is also true then why does LH not buy the 20 per cent of BD that has a 'For Sale' notice on it:
http://business.timesonline.co.uk/to...ctors/transport/article1588787.ece
 
BestWestern
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 9:46 pm

Quoting VV701 (Reply 12):
why does LH not buy the 20 per cent of BD that has a 'For Sale' notice on it:

49% of a company is pretty worthless. BD needs LH to take over the carrier and invest. BD is still lossmaking - its value is in its slots, not its operations.
Greetings from Hong Kong.... a subsidiary of China Inc.
 
Rivet42
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RE: LH To Sir Michael Bishop: Name Your Price For

Sat Apr 28, 2007 9:47 pm

Quoting Johnnybgoode (Reply 8):
we get IB and we'll give you BD. if you take IB, we'll give you a hard time with BD.

That's utter nonsense.

Sir Michael Bishop has clearly stated that he will not sell to anyone, (especially not BA). If he doesn't want to sell, then LH can blow as much hot air into the sky as they like, all it's going to do is contribute to global warming.

Same with IB - there's nothing LH can do until BA decide whether to exercise their right-to-buy options, or not, and even if they decide not to buy, BA will still have a significant holding in IB that LH cannot just bully them into selling...

Clearly LH are flexing their muscles, the question is, "... is anyone bothered...?".

PhiL P
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Beaucaire
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 9:55 pm

Sir Michael Bishop has a big mouth and no strategy.
So far his airline is a wild compromise of no meat and no fish -he has a true asset with the BMI slots in LHR -that's about it !
If he has an offer from LH to take his 50% + one share he should accept ,since slot's alone will not yield any more revenues for BMI without a striking change in the airline's strategy.
If he's clever, he will try to get a stock-swap for his shares with LH and start growing roses in his property.
For BMI employees having LH steering the company will definitely be an improvement.

[Edited 2007-04-28 14:58:55]
Please respect animals - don't eat them...
 
BlueShamu330s
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 9:57 pm

Quoting Rivet42 (Reply 14):
Sir Michael Bishop has clearly stated that he will not sell to anyone, (especially not BA).

I think the times when SMB and BA were arch-enemies has passed; witness the rather civil buy out of BMed and the handing over of slots in the deal. They're not bosom buddies, but neither are they at opposing ends of the field.

It could help further explain why BA want to go after IB in partnership/consortium, saving cash for smaller, but possibly more important, fish.

There have already been rumblings that the EU would have trouble blocking any such takeover on the grounds of anti-competetiveness when comparing BA's LHR slot share to that of LH at FRA, AF at CDG and KL/AF at AMS.

Funnier things have happened.

Shamu
Flying around India
 
Rivet42
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RE: LH To Sir Michael Bishop: Name Your Price For

Sat Apr 28, 2007 10:16 pm

Quoting BlueShamu330s (Reply 16):
There have already been rumblings that the EU would have trouble blocking any such takeover on the grounds of anti-competetiveness when comparing BA's LHR slot share to that of LH at FRA, AF at CDG and KL/AF at AMS.

That's a very good point, often overlooked by those who delight in knocking BA as being 'dominant' at LHR. BA's slot holding at LHR is substancially less than LH, AF, KL and SK at their respective hubs.

As for BMED, I'm reliably informed that they were on the edge of bankrupcy, and BA saw no benefit in swallowing them up, even given their stated desire to acquire more slots. I don't know what BD's rationale was, but I imagine that the slots are more valuable than the routes, and it's quite possible that the routes may disappear over time. On the other hand, the extra slots add a lot of value to BD, who could either use them for STAR services, or sell them for a tidy sum. Would be quite ironic if they do sell, eventually, and the buyer is.... BA!

PhiL P
I travel, therefore I am.
 
BrianDromey
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 10:21 pm

I cant see BA ever buying bmi. It just seems to far fetched. I will agree that LH is interested in building a *A hub in London. United, (possibly US, and TAM) and bmi/LH amd SQ/VS as the home team. If a large scale integration like this were to happen, oneworld would have some decent competiton at LHR. At the minute its a bit of a BA/AA/QF fortress.

Quoting Beaucaire (Reply 15):
So far his airline is a wild compromise of no meat and no fish -he has a true asset with the BMI slots in LHR -that's about it !

With respect, he also has the following with bmi
> A great bunch of crew, modern fleet of Airbusses
> A "low-cost" airline which has a very strong presence in the regions and is well liked by passengers.
> A professional and operationally sound operation in bmi regional, which again has a very stong regional UK presence.
> Finally, a fantastic brand and tradtion, which have been tarnished somewhat bit with a bit of inniovation and "spit and polish" can be returned to the heights they one enjoyed.

bmi lost the plot when they went down the "modular" route. bmi needs to reastiblish itself as a quality airline at LHR and not just another "me too" airline.

Brian.
 
Qazar
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 10:43 pm

Quoting Rivet42 (Reply 14):
Same with IB - there's nothing LH can do until BA decide whether to exercise their right-to-buy options, or not, and even if they decide not to buy, BA will still have a significant holding in IB that LH cannot just bully them into selling...

I'm not too sure about this, but I believe that BA has right of first refusal over its 10% shareholding in IB ... This means that when a valid offer is made to purchase IB by another company (LH), BA automatically gets the first bid (the privilege if you want to consider it) to make an offer as well.

For example, if LH made an offer to purchase IB shares for 4Euros a pop, then BA automatically gets a grace period to present an equivalent or better offer. If they do, the BA offer will be the one selected even if it came in after the LH one. But if BA doesn't make an offer, or if its offer is less attractive to the remaining shareholders than the LH one, the LH offer is selected and BA has no choice but to sell its shares... "Right of first refusal" has its privileges, but also its downsides.

Let's face it, the LX take-over went incredibly smooth and aside from a few glitches here and there, the incorporation of both airlines into one corporate culture was exemplary. There are a lot of opportunities in the European market right now, and LH's cash reserves are very a good indication that the airline is actively seeking these opportunities.

For years LH has been actively screaming that the market is is desperate need for mergers and acquisitions. In order to continue competing against the likes of Ryanair, Easyjet, and all the other LCCs (that keep popping up bases all over Europe regardless of their country of origin) the likes of LH and BA must adopt strategies to access the big markets all over Europe and not be restricted to just their home markets... The Alliances were a good start, but they don't allow airlines like LH to capitalize on routes such as Scandinavia-Thailand, Poland-USA, Austria-CIS, or Spain-Latin America.

We are entering the age of acquisitions... finally!!!
 
vv701
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 10:47 pm

Quoting BestWestern (Reply 13):
49% of a company is pretty worthless.

Really? Sorry, but I do not think you said what you meant to say.

From LH's perspective if they want to buy BD they need 100 per cent of its equity and the best time to buy some or all of it would be when one or the other or both of its two shareholders, SK and SMB wanted to sell. And SK have stated they want to sell. So by the laws of supply and demand, the price will then be lower than if they had not said this. So if LH were seriously interested in buying BD they would have snapped up the SK holding at a low price and only then expressed any interest in owning all of BD. If their subsequent negotiations with SMB were successful the total cost to LH of buying BD would then be lower. It is clear to everyone that if LH and SMB came to a deal SK's shares would be a lot more valuable to SK than what they will get in what is effectively a fire sale.

A similar example is IB. It has been said that LH is also interested in buying them. But BA owns 10 per cent of Iberia and has a pull option on a further 30 per cent. This means that BA can choose to control 40 per cent of IB. Although some might regard this as 'pretty worthless' they could either stop any LH take over or extract a very high price from LH with a holding of that magnitude. So if LH is serious about buying IB, BA's shareholdings and options in the airline at 40 per cent, far from being 'pretty worthless' are actually exceedingly valuable.
 
Qazar
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 11:07 pm

Quoting VV701 (Reply 20):
A similar example is IB. It has been said that LH is also interested in buying them. But BA owns 10 per cent of Iberia and has a pull option on a further 30 per cent. This means that BA can choose to control 40 per cent of IB. Although some might regard this as 'pretty worthless' they could either stop any LH take over or extract a very high price from LH with a holding of that magnitude. So if LH is serious about buying IB, BA's shareholdings and options in the airline at 40 per cent, far from being 'pretty worthless' are actually exceedingly valuable.

They have the option to eventually buy an additional 30%, but it doesn't count unless they actually exercise the option, and in order to do that, they must inject the money necessary. Unfortunately for BA, now that LH is public about their intentions, IB's stock price just soared. And even if BA controls 40% of IB stock, they have to come up with a better deal than what LH offers the remaining shareholders in order to keep their 40% otherwise they will be obliged to sell. Pretty vicious circle for BA, won't you agree?!!!

So to agree with you, yes, 40% is a pretty decent shareholding when invested in a good company... But is "worthless" when a take-over bid is on the table, you're not willing to invest more in that company, and you don't want to lose your present shareholding.

Something's gotta give!
 
Rivet42
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 11:30 pm

Quoting Qazar (Reply 21):
they will be obliged to sell.

I'm not up on corporate take-over laws, so please explain the above point, i.e., what % of the IB stock would LH have to acquire in order to 'force' BA to sell its 10%, under EU/Spanish laws...?

PhiL P
I travel, therefore I am.
 
LHStarAlliance
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 11:32 pm

Quoting Rivet42 (Reply 22):

50% + 1 Stock
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vv701
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sat Apr 28, 2007 11:47 pm

Quoting Qazar (Reply 21):
They have the option to eventually buy an additional 30%, but it doesn't count unless they actually exercise the option, and in order to do that, they must inject the money necessary. Unfortunately for BA, now that LH is public about their intentions, IB's stock price just soared. And even if BA controls 40% of IB stock, they have to come up with a better deal than what LH offers the remaining shareholders in order to keep their 40% otherwise they will be obliged to sell. Pretty vicious circle for BA, won't you agree?!!!



Quoting Qazar (Reply 21):
They have the option to eventually buy an additional 30%, but it doesn't count unless they actually exercise the option, and in order to do that, they must inject the money necessary. Unfortunately for BA, now that LH is public about their intentions, IB's stock price just soared. And even if BA controls 40% of IB stock, they have to come up with a better deal than what LH offers the remaining shareholders in order to keep their 40% otherwise they will be obliged to sell. Pretty vicious circle for BA, won't you agree?!!!

So to agree with you, yes, 40% is a pretty decent shareholding when invested in a good company... But is "worthless" when a take-over bid is on the table, you're not willing to invest more in that company, and you don't want to lose your present shareholding.

Like all options the option BA have on IB shares is an option to buy a fixed quantity of shares (in this case 30 per cent of IB stock) at a fixed price (in this case known only to the parties involved) in a specific time frame. So if LH come in with an offer all BA need to do is to exercise the option and sell to LH at the now much higher price and bank a huge profit. Alternatively if BA so decide they can exercise the option and hold on to the shares and effectively block the LH bid. While 40 per cent of the equity is not a majority I am unaware of any instance where a holder of 40 per cent of the equity of a company subject of a contested takeover bid has ever been on the loosing side of that bid.

If I had to guess what LH's tactics were it would be that they are threatening to bid for IB to keep their competitor (BA) focused on the IB situation while they pounce (possibly for BD) elsewhere. But with BA effectively controlling the future of IB while its option to buy 30 per cent is still live, I do not think you will see LH wasting money on trying to buy IB.
 
Rivet42
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RE: LH To Sir Michael Bishop: Name Your Price For

Sun Apr 29, 2007 12:25 am

Quoting LHStarAlliance (Reply 23):
50% + 1 Stock

...really? Surely that just gives them control. I have a few shares in a company, more than 50% of which was sold to someone else, but I had no obligation to sell. The name of my shares stock just changed, that's all. I thought the figure that allows for compulsory purchase was much higher, like 90%...? In which case, if BA acquires just 1% extra shareholding, LH could not force them to sell...

... (after a bit of research)...

I've just read through Article 15 of the European Directive 2004 On Takeover Bids (  zzz  ), and it seems to say that 90% (or more) of the shares must be acquired before the remaining shareholders MUST sell... Please correct me if I have misunderstood the Directive!  Smile

PhiL P
I travel, therefore I am.
 
PanHAM
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sun Apr 29, 2007 1:05 am

Quoting LXLucien (Reply 10):
The only difference between LH and SR is, that LH buys them and turn them to a profitable airline. LX is the best example for that, 4 years of flying without making mo

even better,LH HAS the money, whereas Swissair loaded the debt on the carriers they "purchased".

A puchase of BD would make sense for LH but it is one of many options they have.
Was Erlauben Erdogan!!!
 
Lite
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sun Apr 29, 2007 4:29 am

Remember that this is all theoretical at this stage, but it does indicate that Lufthansa are looking seriously into purchasing bmi ahead of Open Skies taking place. Lufthansa clearly has a lot to benefit from becoming the owner rather than a majority shareholder in bmi, mainly that they can make the kind of strategic decisions necessary to turn out the maximum profit that they can - which they've done with other carriers where the building blocks were there, but Lufthansa maximised their potential. Most likely this will only be a purchase of the mainline brand rather than the bmi group, though LH has experience and created successful business models for all of the sectors that bmi competes in.
LCC Lover Lite
 
Rivet42
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RE: LH To Sir Michael Bishop: Name Your Price For

Sun Apr 29, 2007 4:49 am

Quoting PanHAM (Reply 26):
A puchase of BD would make sense for LH but it is one of many options they have.

As I understand it, BD is NOT currently for sale, therefore LH do not have the 'option' to buy it. Until Sir Michael Bishop changes his mind, that situation will not change, and LH are just heating up the atmosphere...

PhiL P
I travel, therefore I am.
 
jfk777
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sun Apr 29, 2007 7:09 am

SMB would be silly to sell BMI now, he should start servcie to JFK as soon as possible and make his plans for the USA. BMI is just reaching what it always wanted to be, selling now would be premature.
 
gustyorange
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sun Apr 29, 2007 7:24 am

Quoting Qazar (Reply 21):
But BA owns 10 per cent of Iberia and has a pull option on a further 30 per cent.

BTW what you are describing is a call option. (the right to buy)

The alternative is a put option. (the right to sell)

g
 
Lite
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sun Apr 29, 2007 7:32 am

Quoting Rivet42 (Reply 28):
As I understand it, BD is NOT currently for sale, therefore LH do not have the 'option' to buy it.

Whilst Bishop has not indicated that he has any interest in selling the airline at this time, there are two options that Lufthansa can or may be forced to take in purchasing bmi, which were agreed upon when Lufthansa first purchased their stake in British Midland. The first is at the end of 2007, Bishop has a "put option" which would force Lufthansa to buy bmi for an agreed price, I read recently that is in the value of £350 million. The second is at the end of 2008, Lufthansa has the option to buy bmi for their own agreed price more on their terms. Between when Lufthansa and British Midland first signed this agreement, BD left all German markets unless asked by Lufthansa to operate in them, and the two airlines (plus SAS in Scandinavia) share the profits, losses and operating expenses on flights between the UK/Germany/Scandinavia called the ECA. This ends at the end of this year, allowing bmi to fly wherever they would want to, so Lufthansa may be interested in maintaining strategic decisions over the company.
LCC Lover Lite
 
UA 777
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sun Apr 29, 2007 9:06 pm

Quoting LHStarAlliance (Reply 23):
50% + 1 Stock

That cannot be true.

Under German law, at least 95% of a company's shares need to be owned by the entity that wants to squeeze out the other shareholders (§327a I AktG, German Stock Corporation Act, http://bundesrecht.juris.de/aktg/__327a.html ).

I am not familiar with EU or Spanish law (neither do I know which one applies here) but I am pretty sure that the limit is somewhat along the lines of the German act and not 50% +1 share.
 
UAL777UK
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Sun Apr 29, 2007 11:56 pm

I would love to see LH take over BD. The oppertunities IMHO for LH to then develop BD into a massive player at LHR when we get open skies is a no brainer. Of course thats just my selfish opinion, I always fly BD domestically and to certain European cities and always fly LH to Germany, both provide good products although I would be the first to agree that BD has slipped over the last few years.
 
JGPH1A
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Mon Apr 30, 2007 12:04 am

Quoting Mrniji (Reply 3):
LH is building an empire...

Helloooo ! Where have you been hiding ? LX, OS, LO, JP, OU etc etc - lots and lots of "rabbit's friends and relations" all firmly lodged in the LH camp. Qualiflyer 2 anyone ?

Quoting Qazar (Reply 5):
"LH isn't involved in our operations"

Yeah - and denial is a river in Africa.
Young and beautiful and thin and gorgeous AND BANNED ! Cya at airspaceonline.com, losers
 
Lite
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RE: LH To Sir Michael Bishop: Name Your Price For BD

Tue May 01, 2007 1:02 am

Quoting UAL777UK (Reply 33):
I would love to see LH take over BD.

Provided that they allowed a certain level of autonomy over the way bmi was run and laid off as few staff as possible or none at all, then I'm sure bmi staff would feel the same way being integrated into a subsidiary of a large airlines like Lufthansa - with all the benefits that brings as we've seen with Swiss. The issue is if a company came in to purchase bmi from SMB and was only there to asset strip.
LCC Lover Lite
 
UAL777UK
Posts: 2370
Joined: Sun Nov 20, 2005 1:16 am

RE: LH To Sir Michael Bishop: Name Your Price For BD

Tue May 01, 2007 1:47 am

Quoting Lite (Reply 35):
The issue is if a company came in to purchase bmi from SMB and was only there to asset strip.

Point taken but looking at LH history on recent aquisitions, I would not think that would happen. LH could make BD a very big player in and out of the UK.

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