With the chairman off, a downgrade and the Japanese no longer likely to bid, the shares are unlikely to make further progress in the short term.
More Quotes from Richard Ratner:
The question must be ... whether anyone could run it better than Alan Giles. Thus, there must be some doubt as to a bid emerging.Richard Ratner
Whilst the last time it was a '24-hour wonder', we think that there may be a reasonable chance that a deal could go through this time around, but it will take time for an offer to be formulated.
Richard Ratner
I suspect at the end of the day he would have liked to have bought it but with all the hedge funds in there that he wasn't prepared to pay, given trading, a huge amount for it.
Richard Ratner
This looks like a knock-out bid as the management, in our view, would be unable to raise the additional finance.
Richard Ratner
Given the importance of Per Una to MS, it could have been disastrous had this happened at the current time. Even so, we wonder how long the agreement will last.
Richard Ratner
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