United Utilities, formerly known as North West Water, has tabled a £95.3m bid for Marlborough Stirling through its wholly owned subsidiary Vertex Data Science.
The price of 42p per share represents a near 50% premium on Marlborough Stirling’s share price close yesterday of 28.75p. However, the price represents a discount of nearly 6% on the share price immediately prior to MS’ announcement in Novermber last year that it was seeking a buyer. Marlborough Stirling shares traded at 238.5p in January 2002, giving the company a market capitalisation value then of more than £500m. In its statement to the London Stock Exchange, UU notes that Marlborough Stirling (MS) has a “strongly growing” mortgage division and a portal service for intermediari...
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