The other big news during FY15 was the potential acquisition of iomart by Host Europe. As it happened, talks were terminated in September. iomart’s CEO, Angus MacSween, subsequently told us that a formal offer was never made and that the companies were “a million miles away from getting a deal done”. Nonetheless, we believe iomart remains an obvious target for takeover.
15th march is the earliest date that host can bid again. Possible exciting times ahead again.
What's up here - big volume. Takeover?
Most sensible reason i saw on twitter - many traders may have been positioned before for Takeover News....when that failed to happen, they closed Longs. Stoplosses then triggered and panic set in....