If I had £100 for every time that in my 25 year career that a CEO told me “our low share price makes us vulnerable to a bid” I would right now be sitting in a luxury mansion in the Bahamas. Very few CEOs whose company’s shares are on the up say this. But guess what, in the insider dealing infested snake pit that is the City the companies that receive bid approaches are not those whose shares are tanking but those whose shares are going up.
Those companies who peddle that “vulnerable to a bid” line usually do so in the hope that it will drive investors to buy not because they actually expect one. And so I refer to an article in the Scotsman out today (HERE) which blames me for the collapse in AIM listed Cupid’s share price on Friday
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