M. P. Evans Group (MPE)

Sector:

Food

Index:

FTSE AIM 50

842.00p
   
  • Change Today:
    -8.00p
  • 52 Week High: 1,085.00
  • 52 Week Low: 784.00
  • Currency: UK Pounds
  • Shares Issued: 54.42m
  • Volume: 26,988
  • Market Cap: £458.22m
  • RiskGrade: 143

MP Evans soars on hostile Malaysian takeover offer

By Oliver Haill

Date: Tuesday 25 Oct 2016

LONDON (ShareCast) - (ShareCast News) - Shareholders in Indonesian palm oil plantation owner MP Evans have received a 640p takeover from Kuala Lumpur Kepong (KLK), though the AIM-listed company's board has rejected the terms of the deal.
Malaysia Stock Exchange-listed KLK has made a cash offer of 640p per share, with existing shareholders also due to receive the interim dividend of 2.25p per share, meaning the total offer is worth 642.25p a share and values Evans at roughly £360m.

At that price the offer is around 51% higher than the closing price on Monday and a similar premium to the 12-months and three-year volume-weighted average.

The Evans board, which in September's first-half results flagged a recent recovery in palm oil prices, rejected the proposal on 13 October, KLK said.

"Nevertheless, the board of KLK believes that MP Evans shareholders should now have the opportunity to decide on the merits of its offer," it said in the statement.

KLK said the all-cash offer represents "a compelling value proposition with a high degree of certainty at a substantial premium to the current share price providing an opportunity to realise in full the value of their investment in the context of the low liquidity in the trading of MP Evans shares".

Furthermore, KLK maintained there would be "strategic merit" in bringing the two companies together from cost savings and economies of scale, while also making a play to management by saying they would "have opportunities to develop their careers within the larger organisation".

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MPE Market Data

Currency UK Pounds
Share Price 842.00p
Change Today -8.00p
% Change -0.94 %
52 Week High 1,085.00
52 Week Low 784.00
Volume 26,988
Shares Issued 54.42m
Market Cap £458.22m
RiskGrade 143

MPE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
68.69% above the market average68.69% above the market average68.69% above the market average68.69% above the market average68.69% above the market average
86.21% above the sector average86.21% above the sector average86.21% above the sector average86.21% above the sector average86.21% above the sector average
Price Trend
40.89% above the market average40.89% above the market average40.89% above the market average40.89% above the market average40.89% above the market average
24.14% above the sector average24.14% above the sector average24.14% above the sector average24.14% above the sector average24.14% above the sector average
Income
79.07% above the market average79.07% above the market average79.07% above the market average79.07% above the market average79.07% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
95.43% above the market average95.43% above the market average95.43% above the market average95.43% above the market average95.43% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MPE Dividends

  Latest Previous
  Interim Final
Ex-Div 13-Oct-22 28-Apr-22
Paid 04-Nov-22 17-Jun-22
Amount 12.50p 25.00p

Trades for 07-Oct-2022

Time Volume / Share Price
15:55 5,000 @ 847.00p
16:35 287 @ 842.00p
16:28 4 @ 836.00p
16:28 25 @ 836.00p
16:27 193 @ 840.00p

MPE Key Personnel

CEO Matthew Coulson

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