Sword Group: Launch of a takeover bid on Charteris
CORPORATE, Fair Value EUR18 (+20%)
On Friday evening last week Sword announced its intention to launch a takeover bid on Charteris, a British IT Services company listed on the AIM market, for 4.5p per share or GBP2.3m in cash representing a 50% premium over last Friday’s closing price. We estimate the deal will be accretive by 4% to our adj. EPS ests. from 2014.
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