Good news for KENZ shareholders today sent prices 32% higher to 929p
Some RNS sources do not mention the reason, but thankfully, LSE does (http://is.gd/fTus5y). SNV-Lavalin announces a 935p cash offer for all the shares in KENZ. The directors of KENZ recommend accepting the offer. Certain directors and shareholders, amounting to about 14%, having given irrevocable undertakings to accept the offer. A resolution will be put to shareholders on 18 July.
The offer is 0.65% higher than the current price. The market clearly thinks that the takeover is a done deal given such a small “spread”.
I’ll certainly consider dumping my shares now and seeking more attractive opportunities.
I see from my notes that I had bought the shares on 11 Feb 2014 at 671.3p. My reasoning was pretty basic: it had an earnings upgrade and its Stockopedia Stock Rank was a very respectable 97. PE was only 11.8 and its PEG was 0.43.
In retrospect it all seems a bit of a no-brainer, but that kind of happy result does not happen all the time.
Whilst not perfect, I’m increasingly beginning to think that mechanical strategies are the way to go. Stockopedia is excellent in that regard.
Let’s see if I can turn my truly underwhelming performance for this tax year around. Wish me luck!
Happy investing to you all.