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Advent to take Laird private at massive premium
LAIRD (LRD) 202p
Gain to date: 69.3%
Original entry point: Buy at 119.3p, 8 February 2018
The private equity analysts at US firm Advent International clearly agree with our assessment that Laird (LRD) was too cheap given the recovery potential.
In true Victor Kiam style, they liked it so much they’re buying the company, tabling a 200p per share, near-£1bn offer that was immediately recommended by the Laird board.
We note the share price has nudged beyond the 200p offer price, suggesting modest hopes that a rival offer could yet emerge although Shares believes this is unlikely. We suggest you sit tight and wait for events to unfold.