RE: Cannaccord Genuity Quest MKS14 Jan 2025 12:13
Fender: almost certainly MKS will be a sought after business, but I suspect that it will be broken up with the food side floated off from the other businesses. But, the share price will have risen substantially from current levels, if a bid cones, and Marks will mount a sturdy defence which I hope succeeds like it did before. They have a great management team, very focused on results, and have a very valuable estate which may not be fully valued in the current share price.
Neil mentioned that 75% of the equity was in institutional hands. I hadn’t realised that it was that high a percentage. These institutions don’t care for Marks & Spencer in the same way that PI’s do. They are motivated only by money & large profits.
The currency markets could play a big role here in deciding the future.