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The boards of Bidco and Devro are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Devro (the "Acquisition").
· Under the terms of the Acquisition, Devro Shareholders will be entitled to receive:
for each Devro Share held: 316.1 pence in cash (the "Cash Consideration")
Half year results tomorrow, hope they push the sp back up above £2
Devro ‘s undemanding rating P/E < 10 could herald a takeover from either Cranswick or Viscofan. Management appear to be steering company in right direction , reducing debt etc after having invested >£100 million over recent years.
Difficult to gauge potential impact but looking back at reports seems like Russia is a large market for Devro and they did flag in latest results that revenue in Russia and East declined due to fx headwinds.
Food isn't part of sanctions but must have some sort of impact just a question of magnitude.
Reliable and steady growth in uncertain times. Profit up, debt down Divi up and good strategic plan. Keep it Devro.
Devro is another world class company with a low valuation even after the sharp price rise over the past year. Plenty of upside with or without an increasingly likely bid.
Devro still has some way to go in my opinion but we are going in the right direction and £3.00 is not out of the question over a relative short space of time
Good results today, first dividend increase in 4 years, with net debt continuing to fall.
I live near the area in question. It MAY not be Devra, but I would keep an eye on this, 'cos they will get absolutely SPANKED if they're at it again.
https://news.stv.tv/west-central/dead-fish-black-water-and-toxic-smell-pollutes-river?top
Devro appears to have woken from its moribund state .Perhaps future is looking rosy after these past few years .
Very Very happy with those results......this has to be a very strong buy from these levels...
Very positive . I have topped up this morning and again and this is a major holding for me now . Roll on 180 .
Looks good from what I can see. All positive indicators. Picked up a few this morning. Hoping this will in due course push back up to min 180 level. Solid dividend paying business excellent yield.
Yep time for this to sizzle....
upper level profits on trading update can see a steady rise coming this is very undervalued......its a buy for me
A great business but the share price doesn't go up. Some parts doing well others doing OKish but I think probably becoming more efficient. It's a quality business. Surely surely if stays around these levels it will be taken over although I'd prefer it just to go up. Maybe a dividend increase which would be nice, come on devro wake up.
rising nicely :-)
Am I correct in saying that this went xd yesterday? If it did then this share has had a strong week.
Was expecting yesterday ?
At end of the day
Been following this share now for a couple of years and it appears range bound 150 to 190 apart from pandemic period.Only thing in its favour is the dividend.The CFO is leaving and no replacement has been announced. It is cash generative and may be attractive to a bigger player.
Ok its ex-divi day....so we are going to take a hit by at least the 6.3p divi payment be nice if it held at just that, but we shall see....I still feel we are undervalued and have another payment of 2.7p coming soon still a strong buy for me...
yep it looks that way, but it will still add up to 9p
Check the dates, I thought there were two Ex-Div dates not 9% all at once.
How high can we go before ex-divi ? well I could see £1.80 quite easily and probably more ....I think the divi is about 9p with the back dated one....has to be a strong buy from here ....