Renishaw Takeover Rumours (RSW)

There was an interesting article in the FT by Merryn Webb a few years ago commenting on the takeover of Morrisons. Perhaps the same logic applies here that future rewards might one day arrive for the patient investor. "Why weren't all UK fund managers invested in Wm Morrison when the recent bid for the supermarket chain came in? If it was cheap enough for private equity firm CDR to want it, why was it not cheap enough for traditional fund managers to be holding?" "...fund managers interested in value have a problem. Buying what look like cheap stocks and waiting for them to go up without correctly calculating the odds of the arrival of a catalyst can present what we might call material career risk." "Without that certainty about both value and change you have to leave the value on the table â€￾ and stick with buying shares in companies that are showing obvious growth (just like everyone else)."