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Spice/Revenue Assurance Services - Spice launches agreed bid

September 2007

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.

  • Epic Code:
  • SPI/RAS
  • Price:
  • 572.5p
Two Sharewatch Growth Portfolio II constituents got together this month; Revenue Assurance has received a bid from Spice. For every RAS share, Spice is offering 125.5p in cash and 0.13 new Spice shares. With Spice at 572.5p, this values RAS at 200p and until the deal completes, RAS’ share price will track Spice's given that the offer includes a share-based element. Spice's chief executive, Simon Rigby, is turning into a bit of a deal junkie. However, the acquisition of RAS doesn't fit his model in terms of past acquisitions. First, it is significantly larger - six times larger than anything it has bought before - and more expensive. This is the first time Spice is going into the public company arena for a buy and the price ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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