Sumary of STOCKS TO WATCH: Is new bidder a stumbling block for Telit takeover?:
- Last month, this column revealed that shareholder and former boss Oozi Cats was holding out against the £2.29½p-ashare bid from AIM listed private equity firm DBay Advisors.
- The fund last year successfully shorted fellow e-commerce specialist Boohoo.
- Investors await HSBC dividend news HSBC will round off the bank reporting season tomorrow with investor eyes keenly trained on its dividend intentions.
- Chief executive Noel Quinn has indicated that the board would consider an interim dividend.
- But the shares have underperformed against fellow British lenders and shareholders will hope Quinn can strike an upbeat note on the outlook for global economies.
- There’s chatter that FTSE 250-listed Sanne Group may have attracted a new suitor.
- The fund administration firm agreed to discuss a takeover approach from private equity firm Cinven at £8.75 a share, valuing it at £1.4billion, after rejecting earlier overtures.
- Sources say one potential interloper could be SS&C Technologies, the world’s largest hedge fund and private equity fund administrator.