Surprised that there's been no mention or coverage of the bid yesterday for Charles Taylor Plc. Seems a decent premium, but I'm surprised that the current share price exceeds the bid by nearly 10p per share, especially as the bid has been recommended. Does anyone have any idea why that should be?
I can't suggest a reason why the current price exceeds takeout price + dividend. It can only be that some arbitrageurs think there is a real chance of a higher bid. But I've taken the slight premium and been happy with it.
