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IC TIP UPDATES:
The Power of Talent, an investment vehicle for DBAY Funds, has made a cash offer for Harvey Nash (HVN). The bidco is offering 130p per share in cash for the entire issued and to be issued share capital of HVN, prompting the share price to leap 17 per cent this morning. Shareholders will also be entitled to 1.75p in interim dividends for each share, should a dividend be announced prior to the effective date. The independent Harvey Nash Directors are recommending the acquisition, and it will prove a pleasant result for readers who followed our advice to buy the shares in October last year. The scheme document will be sent to shareholders in the next 28 days, so hold in the meantime.