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Andor Technology
- BY: Andrew Hore |
- POSTED: 22/01/2009 |
- COMMENTS: Add yours
Andor Technology has ended all talks with potential bidders.
However, Photonis Holdings says that it is still considering apossible 90p a share bid for Andor.
Last autumn, the independent directors withdrew their recommendation of the 73p a share bid by management buy out vehicle Thorndale because of strong trading. The shares rose 1.5p to 66.5p a share on the news that bid talks had ended but Photonis was considering its options. That values the digital camera technology developer at £18.2m.
Trading in the first quarter of the current financial years is much better than expected – helped by the weakness of the pound. The order book is strong.
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