Fat Prophets take profits
When we last covered Wyndeham Press Group (WDSW) in FAT128, Dagsbrun, an Icelandic media and telecommunications group, had just made a 155p per share cash offer for the company. At the time, we recommended Members retain a holding in the event a rival higher bid was forthcoming. Such a bid has not materialised.
The first closing date of the offer was on April 18. Dagsbrun had by then received acceptances or otherwise acquired just over 77 percent of Wyndeham's existing share capital. As such the deal now looks 'done'.
We maintain our belief that the offer represents fair value given current market conditions. Without any real prospect of a rival bid we recommend that Members who have not done so accept the offer. Acceptances need to be mailed as soon as possible with the next closing date Tuesday 2 May. Wyndeham Press Group will be removed from the Fat Prophets Portfolio.
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