We suspect that the shares will probably mark time until either another bidder emerges, which seems unlikely, or the merger gets through the competition authorities.
More Quotes from Steve Davies:
Outside its two major markets, Kingfisher reported very strong growth in Poland (against weak comparatives) and good performances in Italy and China.Steve Davies
Given the risks involved it is difficult to see why the shares should trade at a higher multiple than this.
Steve Davies
Our store visits suggested that the company's various fascias were discounting earlier and more heavily than the competition and that is rarely a good sign at this time of year.
Steve Davies
There may be some short-term disappointment today that investors are going to have to wait until the end of 2006 at the earliest for this separation to take place.
Steve Davies
We were expecting (it) to be strong but today's announcement is well ahead of expectations.
Steve Davies
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