Ricardo Takeover Rumours (RCDO)

Thanks Jon. Gresham House hold Ricardo in their smaller companies portfolio. Gresham House has voting rights over 20 percent of Ricardo. The individual investors in the portfolio will have no voting rights over the shares. Do you know of any legal reason that would prevent Searchlight from making an offer for the remaining 80 percent or preventing Gresham House voting in favour of a takeover in the best interests of their customers?

That RNS is odd. It’s titled as a transaction in own shares. Clearly this is either a mistake or some smoke and mirrors. Gresham House is an investment management company that was taken over by Searchlight Capital. Searchlight Capital is a private equity firm and Gresham House will be working with Searchlight on takeover opportunities. I feel a private equity offering for Ricardo brewing here. Ricardo would sit nicely in the Searchlight portfolio. They could likely get a deal away at 650.