Betaville notes Richard Griffiths, dubbed the "Welsh Wizard" in London's Square Mile, has in recent days been converting his derivative position in Telit Communications into phyiscal equity.
One assumes the canny investor has done this so that he can vote the stock at the upcoming shareholder meeting on whether to accept Dbay's controversial 220p a share offer for the company...
I note that shares in Telit Communications, the Aim-listed 'internet of things' provider, have hardly moved since U-blox pulled out of its offer for the business earlier in the week.
Does anybody else find this strange?
Typically after deal talks are called off the target company's share price drops signficicantly or in some cases collapses by as much as 30pc...
The shenanigans at Telit Communications continue unabated, with Dbay this morning saying it has decided not to make an offer for the 'internet of things' company after all.
Dbay, one of the Aim-listed company's largest shareholders, also said it won't back a 250p a share all stock offer from Switzerland's U-blox, which has also been stalking Telit. Below is the link:..
It would appear the chaps over at Dbay are really cranking up the negotiations over Telit Communications, the Aim-listed 'internet of things' company.
Dbay, run by feared activist investor Colin Kingsnorth, has just put out a statement saying it is considering (note the "considering") submitting an offer of £1.90 a share for Telit and that U-blox's all paper £2.50 a share offer isn't worth the paper it is being issued with.
Below is the link:..
Voila: U-blox and Telit Communications have confirmed Betaville's RARE ALERT from yesterday afternoon.
Below are links to their respective confirmations:
U-blox Holding AG, the Switzerland-listed wireless semiconductor company, is circling Telit Communications with a view to merging with the Aim-listed 'internet of things' designer.
People following the situation have heard rumours U-blox is interested in all-share merger with Telit and may have already approached the Aim-listed company with a proposal about a combination of the two businesses...