JOHCM believes an offer between 80p and 100p per share would be acceptable

  • Currys shareholder calls for £1bn offer amid takeover talks
  • JO Hambro Capital Management believes an offer between 80p and 100p per share would be acceptable
  • An offer of 90p per share would value the company at £1bn
  • JOHCM highlights the absurdity of UK stock-market valuations compared to the size of Currys’ sales
  • Currys rejected a second bid from Elliot worth 67p per share

A shareholder of Currys, JO Hambro Capital Management (JOHCM), has urged the electronics retailer to hold out for an offer of £1bn as takeover talks continue. JOHCM, a UK equity income fund, believes that an offer between 80p and 100p per share would be acceptable, with an offer of 90p per share valuing the company at £1bn. The fund highlights the absurdity of UK stock-market valuations compared to the size of Currys’ sales, which generate approximately £9.5bn. Currys recently rejected a second bid from Elliot worth 67p per share, an increase from its initial 62p-a-share offer that valued the retailer at £700m.

Factuality Level: 7
Factuality Justification: The article provides specific details about a shareholder’s stance on Currys’ valuation amid takeover talks. It includes quotes from the fund managers and mentions previous bids. However, the article lacks broader context and perspectives from other stakeholders, which could provide a more comprehensive view of the situation.
Noise Level: 3
Noise Justification: The article provides relevant information about a shareholder’s perspective on Currys’ valuation amid takeover talks. It includes details about the offer price, the company’s sales, and the comparison to the UK stock market. The article stays on topic and supports its claims with quotes from JOHCM’s senior managers. However, it lacks in-depth analysis of the long-term trends or consequences of the valuation discussions.
Financial Relevance: Yes
Financial Markets Impacted: Currys shareholder and potential buyers
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the valuation of Currys and potential takeover offers. However, there is no mention of any extreme events or their impact.

Reported publicly: www.retailsector.co.uk