Zytronic Takeover Rumours (ZYT)

127p per share NAV less costs of closure and realisation sounds a lot better than speculative re-boot of the business. Disappointing and does not reflect well on management. Takeover at 100p would be better still and might be potentially viable if cost stripping (listing costs, management salaries, admin rationalisation etc.) brings the existing business to a break-even or better outcome. (I always see references to the £billions of "addressable market" as a red flag.) Would have preferred to hear of "experiments" already undertaken to test the hypotheses underpinning the "Transformation" start-up which would be dependent upon so many future uncertainties. I hope they didn't pay too much for the external review. I wonder what the Peter Gyllenhammar and Henry Spain organisations are contemplating now this morning? Will Dellner take a look (see post 81)? Is 50p a share a buy now?

On the possibility of a takeover here by Neqtex, I actually think it could be a realistic theory. Neqtex generates about 50 percent of its sales in North America and ZYT about 40 percent in APAC. Nexteq could possibly get some useful new customer relationships basically for nothing just by offering us NAV for our shares.