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Entertainment Rights bid talks off

Created:
23 April 2008
Written by:
Amanda Vermeulen

Entertainment Rights has ended discussions with a rumoured two parties that were interested in acquiring it. No reason was given.

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Any takeover would have been at bargain-basement levels anyway - the shares had collapsed because of distribution problems over Christmas. Broker Dresdner Kleinwort forecasts 2008 adjusted pre-tax profits of £14.7m (£11.9m in 2007) and EPS of 1.4p (0.79p).

IC VIEW

FairlyPriced

Entertainment Rights can now move ahead without further distractions. It's certainly got plenty to do. At 9.5p, the shares are fairly priced.

Last IC view: Fairly priced, 10p, 9 Apr 2008

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