Updates

Waterlogic - Receives 151p cash bid

December 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Waterlogic has received a cash bid worth 151p a share, which values the company at £122.6m. The bid vehicle, Poseidon, has received irrevocable undertakings to accept the offer from shareholders representing 47.2m shares or 83.6% of the shares – so the deal looks cut and dried. The deal is being funded by EPIC Funds, which is managed by Luxembourg-based private equity firm Castik Capital and directors will swap their shares for shares in the bid vehicle.The offer price represents a 32% premium over the previous day’s close but still represents a disappointing result for shareholders. Accept the offer. ...

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