Daisy is expected to make a bid for rival Alternative Networks this week in yet another wave of industry consolidation. News of a deal, which broke on Sky News yesterday, values Alternative at around £165 million. The offer for Alternative Networks would be pitched at about 335p-a-share, a premium of just under 20% to Friday’s closing share price of 285.25p.
The transaction is designed to bolster Daisy’s presence in the managed services segment of the telecoms and IT industries.
Currently listed on Aim, Alternative’s share price has fallen almost 50% since its peak in early 2014. Price competition from larger rivals across Europe have been blamed for the company’s recent struggles.
Major Alternative share holders include Investec Asset Management and Polaris.
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