The positive share price reaction is a result of investor perception that the sum of the parts is worth more than the current combined businesses.
More Quotes from Keith Bowman:
The consolidation story across the industry is certainly growing. Although there's no speculation on Legal General at the moment, its very strong UK market share could put it in the firing line.Keith Bowman
While market expectation is that it will eventually lead to a full blown takeover, it could in the medium term prove to be a negotiating tactic - the board of the London Stock Exchange now have to think again with regards to their possible future while Nasdaq has effectively left itself with a big say in any future developments.
Keith Bowman
Today's in-line figures mark an interesting contrast with the above forecast results received recently from rival Legal and General -- where improved UK business underpinned well-received figures.
Keith Bowman
We certainly had very good levels of interest from private clients.
Keith Bowman
The... acquisition of the Birthdays chain of stores is compounding what are without doubt the most challenging trading conditions the group has seen in years.
Keith Bowman
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