All cash bid at 610p per share announced after hours on Monday evening for Fenner (LON:FENR).
https://www.investegate.co.uk/cie-gen-eta-michelin/rns/offer-for-fenner-plc/201803191714442031I/
Missed it first time around wading through all of the portfolio red ink! Not yet fully in the price but has been on a decent run of late.
Gus.
Ex investment banker specialising in ABS/RMBS and Principal Finance. Now a slightly less stressed house husband, dog walker, long distance cyclist and scuba diving PI.
Thanks gus, I completely missed that announcement.
There was a decent trade in volume yesterday, and Share Price ended the day above a resistance line. And now today's Share Price takeover share price jump.
(Belated) credit where credit is due (apologies, took me a while to find the link), a vote of thanks from me to Stocko subscriber PhilH as I identified Fenner (LON:FENR) as a stock to look into from a screen that Phil posted here last November.
https://www.stockopedia.com/screens/fork-of-base-screen-growth-with-price-and-volume-mom8230-28363/
The screen doesn’t identify that many UK stocks but I’ve picked up a couple so far that have done OK. Fenner (LON:FENR) had already done pretty well since I picked a few up and yesterday’s acquisition was the icing on the cake. Thanks Phil!
Gus.
Yes I also hold and saw the update last night.
Held it in my wife's ISA and in my daughters ISA so a very nice uplift.
In my opinion the more people use the screens and not 'advisers' the better!
Congrats
Phil
Plus one on the thumbs up for PhilH and his screen. I too bought this off the back of that same screen (fairly recently) so have done very well from it in a relatively short time.
Thanks again Phil.
Carey
Also a thanks from me as I too bought Fenner (LON:FENR) based on PhilH's previous post/screens.
Over the last 6 months I have selected a few stocks through a screens-based approach only.
Without taking anything away from my self-selected stocks (which continue to perform well), this new approach has also yielded significant returns.
What are holders doing now? Looks like a done deal and the dividend is hardly worth waiting for, share price is slightly above the offer price.
Hi Herbie.
I agree it’s probably a done deal but will wait to collect the dividend/avoid the dealing costs and spread from cashing in now. I don’t think there will be a higher offer but it’s a free option and as I’m already holding a fair bit of cash looking for a safe home at the moment I will let this one run the course.
Gus.
I sold half this morning for 618p and am holding the other half in case another higher offer comes in.
I'll give it a few weeks or until I need the money for another purchase.
There is of course the risk that the offer is rejected by shareholders and the price falls back.
M.
OK thanks, I sold out yesterday morning, saw this RNS rather late for some reason, so did not get a very good price only 613p.
A big vote of thanks to Phil from me as well. Thanks Phil. I too bought Fenner for various family ISAs using your screen and have recently put some others in my Fantasy portfolio to see how they do.
Will probably hold Fenner until the dividend, (if it comes and the price doesn't plunge down!!)
