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TAKE PROFITS Ideagen (IDEA)

Ideagen (IDEA) Close at 345p

Ideagen (IDEA) announced earlier this month that it had reached a takeover agreement with private equity firm Hg Pooled Management…

The deal, worth £1.09b (US$1.34b) agreed to a 350p per share cash offer for the compliance software group.

We had held off from closing our position as it was rumoured that a second bid from a third party, Astorg would materialise.

However, with Astorg pulling out of the running last week, and Ideagen’s share price stabilising at (345p), we’re happy to crystalise our profits.

It is also worth noting that whilst Ideagen’s current price is at a small discount to the agreed bid price of 350p – this includes a risk premium which accounts for the potential of the deal falling through.

Profit = 75.13%

IDEA Daily Candle Chart