By Michele Maatouk
Date: Monday 24 Apr 2023
LONDON (ShareCast) - (Sharecast News) - Jefferies downgraded payments firm Network International on Monday to 'hold' from 'buy' and lifted the price target to 400p from 360p as it said that a second non-binding bid by private equity makes a take private more likely.
Network International announced on Friday that it had received a "highly preliminary" 400p a share cash offer from Canada's Brookfield Asset Management.
This followed an earlier bid from a consortium of CVC Capital Partners and Francisco Partners at about 387p a share.
Jefferies said it believes the chances of both bidders walking away seem low at this point.
"Our new price target is in-line with the latest non-binding offer by PE firm Brookfield, following a non-binding offer by the consortium this week," it said.
"The current share price suggests the market sees a good chance that the latest offer, or something modestly above that, will now be successful."
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Currency | UK Pounds |
Share Price | 393.00p |
Change Today | 0.80p |
% Change | 0.20 % |
52 Week High | 395.20p |
52 Week Low | 357.00p |
Volume | 1,618,211 |
Shares Issued | 532.75m |
Market Cap | £2,093.70m |
RiskGrade | 349 |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
17:47 | 184,852 @ 393.78p |
17:47 | 184,852 @ 393.50p |
17:43 | 16,266 @ 393.41p |
17:43 | 16,266 @ 393.41p |
17:43 | 43,492 @ 393.41p |
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