Shares in Harvey Nash (HVN) jumped almost a fifth on the day news broke of an all-cash offer for the group. The Power of Talent – an entity set up by asset manager DBAY, which already owned a 26.1 per cent stake in the recruiter – offered 130p a share for the entire issued share capital.
IC TIP:
Hold
at
130p
Shareholders will also be eligible for a half-year dividend of 1.75p a share, should it be declared prior to completion of the deal. HVN’s independent directors intend to unanimously recommend the offer. The offer represents a 16 per cent premium to the share price the day prior to the offer being revealed.
