I predict lots of deal excitement in the London market on Monday morning, with the weekend press all excited about a London Stock Exchange (LSE) apparent takeover approach to a global financial data peer. There are precious few numbers on the proposed combination currently kicking around but the mooted level of cost synergies appears very low to me.
The unbelievably benign state of the market was underlined this week by its generous reaction to bad news from Cobham (COB). On good news shares go up big time. On bad news, these days, shares just go up.
The legendary bear Robert W Wilson once mused about his modus operandi: “I’m not interested in climbing into a tree and wrestling the jaguar out of the tree. I am interested in someone shooting the jaguar out of the tree and then I will go and cut the thing apart”
Reviewing last month from Cobham (COB) ANOTHER profit warning I concluded, with the shares at 140p, that there could be worse to come and that it was a bargepole stock. Now, on the back of a further update, the shares are currently heading towards 100p…
Aerospace and defence group Cobham (COB) has released a “Post-close Trading Update”, with the shares currently around 15% lower, at 140p, in response. Uh-oh…
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