Wednesday, 19 August 2009

All bids off the table at Morse

(By Anthony Miller – Wednesday 19th August 2009 5:15pm). No joy, at least this time round, for the parties sniffing around Morse (see Mixed news at Morse). The offer period has just closed, with the board holding its ground that 25p per share is simply not enough. Morse's shares had been languishing under 15p this year until the bids were mooted, and touched 33p in July as speculation mounted on a bidding war. But after this afternoon’s news they have dropped to 25p. So, it’s back to business for Mike Phillips and the team, with ‘in line’ numbers confirmed for FY results due in September. Surely this will not be the end of the affair.

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