This morning Thales was revealed as the bidder for nCipher with a 300p cash offer valuing them at £50.7m. Yesterday, shares in nCipher soared by 73% to 260p after they put out an RNS announcement.
Bluntly, this is a pretty amazing price - last achieved in the dot.com heights and c140% more than its pre-bid price. I am reminded that, on top of this, nCipher returned around £40m to shareholders over a year back too.
One note of caution though - nCipher has been here before. Back in early 2006 it received a similar 300p bid from SafeNet which was later abandoned (I won't go into the complex reasons here)
But I can think of at least one HotViews reader who will be pleased today and even happier when the cash is finally banked!
Thursday, 10 July 2008
nCipher soars on Thales bid
Posted by Richard Holway at 18:38
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