Jennings takeover bid?

Read the plea in What's Brewing.

I don't get What's Brewing - what does it say?

It's a reader's letter from an E. Atkinson in Germany, who is a Jennings shareholder. He/She is basically suggesting that CAMRA members and the CAMRA Investment Club start buying shares in Jennings to thwart any Robinsons takeover.

I wonder if a Robinsons takeover would mean closure for the historic Jennings Castle Brewery in Cockermouth? Do Robinsons just want Jennings pub estate and beer sales buisness? I suppose it depends on wether the Castle brewery can produce the Jennings beers more cheaply than Stockport, and wether Stockport has enough spare capacity for all production to be moved there. I for one would not sell my shares to Robinsons if their intention was to close Castle - but I doubt that they would come out with this information in any takeover bid. CAMRA members buying up shares is an idea but I wonder if they could ever buy enough. I suppose that it's a win/win situation if you did buy shares though - if Robinsons are thwarted then you'd be happy, and if Robinsons win then you'd get the concellation prize of a profit on the shares.

It's difficult to imagine any other scenario than closure if Robinson's did take them over, although as with Hartleys it probably would not be immediate.

As you say, there's more than enough spare capacity at Stockport to take on the Jennings volumes.

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"Necessity is the plea for every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves." (William Pitt, 1783)

I suppose the success of a campain to stop a Robinsons takeover depends on who holds the remaining 75% of the shares that Robinsons don't yet own - they only need another 25% to take over Jennings. I can see individual shareholders (many of who I believe are locals or employees) being persueded not to sell up, but any shares held by insurance companies/pension funds/investment trusts would probably be sold to Robinsons as these companies have to act in the best interests of their shareholders and sell at the best price they are offered. Is there any way to find out who owns the sares in Jennings?

Also they're getting near the limit (it's around 25% if memory serves) where if they want more shares they have to make a takeover bid. So watch out if you get a mail shot from Jennings for it's approval.

Stephen.

"Stephen Brocklehurst" wrote in news: snipped-for-privacy@iris.uk.clara.net:

29.9% is the limit.