Andor Technology (AIM:AND) WHI considers that another increase from OXIG still not enough
Oxford Instruments (OXIG) has made a further increase to its proposed offer for Andor with at least one broker considering this is not enough – we aren’t so sure!
OXIG has lifted its offer to 525p from 500p stating this is the final bid….assuming the bid situation remains non-competitve; so it isn’t necessarily their final offer! WH Ireland remains of the view that Andor and its shareholders should wait for a richer suitor, but how many times have we witnessed in the past an absence of such offers! WHI considers that if a 500-525p bid were to succeed, Andor’s shareholders would effectively be giving away the revenue and EBIT margin growth potential of the business for free, believing Andor has strong future prospects and a bid that fully values…