If you are following the Meggitt takeover situation then Oliver "Shahsy" Shah's fanstastic on the record interview with Sir Nigel Rudd is a must read...
The counter bids keep on flowing.
This time FTSE 250-listed Meggitt has received a 900p a share rival approach from TransDigm, another US-listed aerospace and defence company. Below is the link to today's announcement:
Betaville was just having a nosey about Shorttracker.co.uk and it would appear Ken Griffin's Citadel recently built up a sizeable short position in Meggitt.
According to Shorttracker, as of July 27th Citadel's short position in Meggitt was just over 1pc of the company but this morning Meggitt's shares are up around 60pc after agreening to a 800p a share offer from Parker-Hannifin Corporation. Ouch!..
So, Meggitt has decided to finally come clean, revealing it is recommending an 800p a share bid from Parker-Hannafin Corporation. Below is the link:
Another day, another private equity bid rumour for a London-listed company.
This evening Tom Howard of The Times is reporting that Meggitt has received a takeover approach from a mystery private equity firm. Below is a link to Howard's market report column with the rumour:..
Arch rivals at Dealreporter (where Betaville's illustrious career in financial journalism began) revealed this morning that Woodward, the US-listed designer of controls for the aerospace industry, is looking at London-listed Meggitt, the jet parts manufacturer for the defence companies.
That tale sent Meggitt's shares skyrocketing almost 14pc but there was no announcement from either party confirming any talks or even weighing of an offer...
If you have a spare moment over the weekend and are interested in the Cobham / Advent bid situation then do click on the link below for a follow up piece in the Mail on Sunday's business section by yours truly and Jamie "Nimmers" Nimmo...
Hat tip the FT deals team hacks who stayed laid at work last night to dig out the Advent Cobham bid scoop ahead of this morning's announcement. Below is a link to the deal announcement: