EUROMONEY (ERM) £13.82

Gain to date: 24%

Original entry point: Buy at £11.12 , 7 October 2021

Shares in information services and events firm Euromoney (ERM) jumped 25% following confirmation of an approach from private equity firms Astorg Asset Management and Epiris LLP, regarding a possible cash offer of £14.61.

This equates to a 34% premium to the undisturbed closing price on 17 June.

The Euromoney board are currently engaged in discussions with Astorg Asset Management and Epiris LLP, which have until 18 July to either make a formal bid or walk away.

Euromoney recently reported strong first-half results (19 May). The numbers were ahead of expectations from both a revenue and earnings perspective.

The core focus of Euromoney’s strategy has been to grow the data orientated segments of the business which benefit from high barriers to entry and recurring revenues.

This has in part been facilitated by three key bolt-on acquisitions: BoardEx, Wealth-X and Wealth Engine. 

The data Euromoney provides is becoming increasingly fundamental to customers’ work.

SHARES SAYS: Sit tight and wait for the bid situation to play out.

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