The board of Statpro (SOG) is recommending a 230p-per-share takeover offer from US-based software group Confluence. The deal values the cloud analytics group at £161m - a premium of 55 per cent to the closing price the day before the announcement - and prompted the shares to jump more than 50 per cent.
IC TIP:
Hold
at
226p
The group said the deal offered “a significant opportunity for expansion both in terms of complementary products, and geographic reach”. Statpro has operations across North America, Europe and South Africa, while Confluence is substantially focused on the US and Canada.
