RE: Barclays upgrades to 115p18 Apr 2020 16:47
FT weekend highlights a broker's valuation on INTU of 0p and reckons itis close to end of the road for them. HMSO has at least a 50-50 chance with Orion, because if they fail to complete their deal this week, we can serve a Completiuon Notice under the contract and if they are unable to find the cash to complete within the time specified in the contract, we can (and hopefully would) issue a court proceeding to require them to proceed and a charge against Orion (or the relevant fund) for the Pending Action. Of course, Orion know this, so there is likely to be some sort of compromise - hence the HMSO price, which, though low, could be even worse. I am overweight here thanks to averaging on the way down, so will only consider buying more when I know the outcome. Just hope they don't follow INTU!