Rdi Reit P.l.c Takeover Rumours (RDI)

Rdi Reit P.l.c Chart

Rdi Reit P.l.c Takeover Price

Rdi Reit P.l.c Takeover Forum Posts

Still this lot aren't as bad as the shower running HMSO who turned down a takeover approach 12 months ago. According to them the 635p offer "very significantly undervalued the company". Shares are now 280p!
Quite a bit to say given events of last week, namely Cromwell's potential takeover offer expiring and subsequent Interim results. I'll start with the takeover - my thoughts are this was never a serious bid from the outset and the market knew it. We can only speculate as to the offer price as this has not been disclosed by either party. Media reports suggested a bid in region of 185p a share, this being 9% below NAV 204p. Some might say it was actually a generous offer representing a 30% premium on 129p. Fair comment but you have to put this into context - less than two months earlier sp was 162p following ill advised 5 for 1 share split, Cromwell just happened to make their offer the very same week share price hits a 10 year low (caused by overblown fears of Brexit / retail gloom). In other words an opportunistic and derisory offer which was rightly rejected.
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