TI Fluid Systems (TIFS)

Index:

FTSE 250

192.80p
   
  • Change Today:
    -0.40p
  • 52 Week High: 193.40
  • 52 Week Low: 112.00
  • Currency: UK Pounds
  • Shares Issued: 496.21m
  • Volume: 1,941,406
  • Market Cap: £956.70m
  • Beta: 1.35

Jefferies cuts TI Fluid Systems price target to 200p, downgrades to 'hold'

By Michele Maatouk

Date: Tuesday 29 Oct 2024

LONDON (ShareCast) - (Sharecast News) - Jefferies downgraded its stance on TI Fluid Systems on Tuesday to 'hold' from 'buy' following the takeover proposal from ABC Technologies.
"Given the likelihood of progression of ABC Technologies' proposed 200p per share offer for TIFS we move our price target to the offer price of 200p, and we downgrade our rating," it said. The price target was cut from 215p.

TI Fluid said earlier this month that it would be "minded to recommend" an improved takeover proposal from Canada's ABC Technologies at 200p a share, should a firm offer be made.

TI Fluid had already rejected offers of 165p a share, 188p a share and 195p a share.

The latest proposal, which was made on 10 October, represents a premium of about 53.4% to the closing share price on 21 August, which was the last business day prior to ABC Technologies submitting its first proposal to the group.

Under UK takeover rules, ABC now has until 8 November to either announce a firm intention to make an offer for TI Fluid Systems or walk away.

At 1530 GMT, the shares were down 0.3% at 175.80p.

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

 

TIFS Market Data

Currency UK Pounds
Share Price 192.80p
Change Today -0.40p
% Change -0.21 %
52 Week High 193.40
52 Week Low 112.00
Volume 1,941,406
Shares Issued 496.21m
Market Cap £956.70m
Beta 1.35

TIFS Star Ratings

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more star ratings
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What The Brokers Say

Strong Buy 2
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 5
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TIFS Dividends

  Latest Previous
  Interim Final
Ex-Div 15-Aug-24 23-May-24
Paid 13-Sep-24 21-Jun-24
Amount 2.40¢ 4.53¢

Trades for 04-Dec-2024

Time Volume / Share Price
16:47 1,784 @ 192.82p
16:35 696,397 @ 192.80p
16:35 9,247 @ 192.80p
16:35 15,041 @ 192.80p
16:35 184,181 @ 192.80p

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