Halfords Group (HFD)

Sector:

Retailers

Index:

FTSE Small Cap

131.40p
   
  • Change Today:
    -1.00p
  • 52 Week High: 232.80
  • 52 Week Low: 130.60
  • Currency: UK Pounds
  • Shares Issued: 218.93m
  • Volume: 521,835
  • Market Cap: £287.67m
  • RiskGrade: 239
  • Beta: 1.42

Redde Northgate approaches Halfords over £1.4bn tie up - report

By Frank Prenesti

Date: Monday 20 Nov 2023

LONDON (ShareCast) - (Sharecast News) - Van rental outfit Redde Northgate has made a £1.4bn merger approach for high street bike and car repair chain Halfords, the Sunday Telehgraph reported, citing unnamed sources.
The report stated the duo held detailed talks about a possible tie-up after Redde Northgate, which owns 130,000 vans and corporate cars in the UK and Spain, made a firm proposal to Halfords.

Redde Northgate had proposed a nil-premium merger, but the discussions were abandoned because of disagreements over price, a source told the newspaper. The Halfords board is reportedly thought to have concluded that any such deal on the terms laid out would have undervalued the company.

However, it is believed that Redde Northgate could mount a fresh bid if the valuation gap between the two sides closes. It is understood that the Takeover Panel was informed of the discussions, which took place in the last few months.

"There were discussions about what an integration of the two businesses might look like but there were questions over the valuations of both companies. Both share prices weren't doing fantastically well at the time so there is nothing live at the moment. However, it could come back," a source close to the negotiations was cited as saying.

Redde Northgate was created during the pandemic when van rental specialist Northgate joined forces with Redde, formerly known as Helphire, which sorts accident claims from businesses and company fleets. It went on to snap up the remnants of vehicle repair provider Nationwide Accident Services.

In recent years, growth at Halfords has increasingly been driven by its network of car garages, which are more profitable than selling bikes. Sales now represent 40pc of total group turnover compared with just 14pc five years ago.

Reporting by Frank Prenesti for Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Halfords Group Market Data

Currency UK Pounds
Share Price 131.40p
Change Today -1.00p
% Change -0.76 %
52 Week High 232.80
52 Week Low 130.60
Volume 521,835
Shares Issued 218.93m
Market Cap £287.67m
Beta 1.42
RiskGrade 239

Halfords Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
35.73% above the market average35.73% above the market average35.73% above the market average35.73% above the market average35.73% above the market average
41.46% above the sector average41.46% above the sector average41.46% above the sector average41.46% above the sector average41.46% above the sector average
Price Trend
53.86% below the market average53.86% below the market average53.86% below the market average53.86% below the market average53.86% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average
Income
18.54% above the market average18.54% above the market average18.54% above the market average18.54% above the market average18.54% above the market average
40% below the sector average40% below the sector average40% below the sector average40% below the sector average40% below the sector average
Growth
60.49% below the market average60.49% below the market average60.49% below the market average60.49% below the market average60.49% below the market average
28.57% below the sector average28.57% below the sector average28.57% below the sector average28.57% below the sector average28.57% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
Sell 1
Strong Sell 1
Total 5
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Halfords Group Dividends

  Latest Previous
  Final Interim
Ex-Div 08-Aug-24 14-Dec-23
Paid 13-Sep-24 19-Jan-24
Amount 5.00p 3.00p

Trades for 22-Nov-2024

Time Volume / Share Price
16:36 75,000 @ 131.60p
16:35 110,519 @ 131.40p
16:35 198 @ 131.40p
16:35 1,004 @ 131.40p
16:35 500 @ 131.40p

Halfords Group Key Personnel

CEO Graham Stapleton
CFO Jo Hartley

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