Ip Takeover Rumours (IPO)

Link to report if anyone not seen it yet. Two London-listed funds are in line for a cash windfall of more than £200m as the American payments giant Visa closes in on a takeover of a fraud detection company backed by Mike Lynch, the late technology tycoon. Sky News has learnt that the sale of Featurespace to Visa for about £730m could be announced as soon as next week. IP Group, which owns a stake in Featurespace of just over 20%, and Chrysalis Investments, which is understood to own about 12%, ultimately stand to reap more than £220m from the sale of another leading UK-based technology company. Talks between Visa and Featurespace have been ongoing for some time, and were first reported by Sky News in August...more Https://news.sky.com/story/london-listed-funds-land-200m-from-lynch-backed-featurespace-13217910

Following the ONT results to 30/6/2024, there is the US version of London Calling in Boston, Monday 16th - Tuesday 17 September 2024 It's thought that there will be more info presented on the clinical uses for ONT that are coming to the market over the next year, both directly and via various partners. A month later on the 5th October 2024, the management anti-takeoevr shares will expire, leaving the co open to possible takeover activity and inclusion in various indices/tracker funds etc.

hxxps://news.sky.com/story/lynch-backed-featurespace-in-talks-about-visa-takeover-13202036 This is, potentially, very very positive for IP. IP owns 20.1% of Featurespace and was carrying it at £73m as at 31 Dec 23 or 7.0p per share. This gives an implied valuation of £363m. A takeover at c£700m would therefore represent c£140m in cash or c14.0p per share, all assuming no preferential share rights for IP or any other shareholders. This equates to roughly 14% of NAV or 33% of the current share price.