BAE Systems identified as Detica bidder?

After the markets closed on Friday, Detica put out an RNS statement saying that it had received a bid approach. This was occasioned by a 22p rise in Detica’s share price on Friday; valuing them at £351m. Indeed they are up 16% on the week which rather infers that someone must have known about this bid situation.

On Saturday, the FT identified BAE Systems as the bidder- BAE’s informal offer for Detica could spark bids. It was also suggested that this would flush out other bidders with Finmeccanica named as one. I can think of a few other majors who would be interested in this rare example of a successful, independent, mid-sized UK SCS player.

In my view, Detica is a fine company and I’ve always had a healthy respect for its CEO and founder – Tom Black. Indeed he came within a whisker of getting the Holway Boring Award he so clearly coveted, just a couple of years back. You can re-read my 2nd June 08 report – Detica – a game of two halves. My views have not changed in the intervening weeks