Understanding Company News: How to Interpret Stock Market Announcements by Rodney Hobson

Author:Rodney Hobson [Hobson, Rodney]
Language: eng
Format: epub
Tags: Business & Economics, Personal Finance, Investing
ISBN: 9780857191328
Google: nVCuAAAAQBAJ
Publisher: HarrimanHouse
Published: 2011-04-15T20:21:55+00:00

Formal offers always indicate the price being paid for the entire company but what matters to Eidos shareholders is how much per share they will get. The 32p on offer is three and a half times the level the shares had sunk to before the approach (a 258% premium means 9p plus an additional 258% or 23p on top) and more than double the 14p that the shares had reached before terms were announced (a 129% premium). The larger the premium, the greater the gain.

The proposed takeover is by a scheme of arrangement under which Eidos shareholders vote for or against it at an EGM. There is always the added safeguard that High Court approval is required for a scheme of arrangement so that shareholders are not unfairly bulldozed into accepting a bid.

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