Aim-traded US ethanol business
Trading-wise, GTL has performed solidly of late and recently reported improved margins in the business. Its refinery now has a decent record of performance, but the business continues to carry significant debt at the operating level, which has continued to hold the shares down.
GTL shareholders have probably forgotten the time when their shares last touched 100p, which means this offer is likely to attract a good deal of support. The shares have risen to 97.5p, which suggests hopes of a rival bid are slim. Await documents.