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Reason for recent SP surge

lse:crh

#1

http://www.independent.ie/business/irish/jump-in-crh-shares-after-us-group-boosts-stake-to-134pc-2150871.html


#2

nice to see we are finally waken from the slumber of the last few months.


#3

It is a very high percentage of ownership, it would be interesting to see when they started to acquire a shareholding (Yahoo finance does not even list them as an institutional shareholder). I can't remember the limit of ownership they must stay below before a bid must be made for the company but it must be getting close.


#4

dawto..i guess that they have no interest in making a bid. They are simply buying shares in an undervalued company.
They should be listed on yahoo.com or the nasdaq site as a large shareholder?


#5

LG,

They don't appear to be (unless I'm missing something):

http://finance.yahoo.com/q/mh?s=CRH+Major+Holders

http://www.nasdaq.com/asp/holdings.asp?symbol=CRH&symbol=MIR&symbol=CPN&symbol=PCS&symbol=GERN&selected=CRH


#6

dawto...i guess that they bought them on the ise


#7

Unfortunately LG, it's not (as I'm sure you know) that simple!

If a company lists on the NYSE it must abide by it's rules, and one of the most basic rules is that all material shareholders must be publically declared within a certain (and very strict) timeframe. That is why I thought it possibly significant that Capital's shareholding might be fairly recent and, if so, that it was a pretty serious foray into CRH; investment companys generally don't suddenly appear and take a $2.5 billion stake in a company where they have no apparent prior holding.