Wednesday, 2 July 2008

Flomerics strategy pays off

Just to close the loop on the Flomerics story (See previous comment) , yesterday Mentor upped its bid from 104p to 122p/£30m which was enough to secure the backing of the board. This really is a very good outcome for Flomerics shareholders. You should remember that when Mentor first bought its stake in March the shares were just 50p.

I feared that Flomerics might be being too greedy and that Mentor would walk away too when the Autodesk bid evaporated last week. So full marks to the Flomerics board for a great strategic game which paid off. Of course, I'd be writing quite a different article if it hadn't!

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