Panmure Gordonwww.panmuregordon.com TICKER: PMR EXCHANGE: L
Panmure Gordon is a focussed, mid-sized, research-based, investment bank operating in four business areas - corporate finance, institutional equities, market-making in the UK and the USA and wealth management in the USA, with a branch in Switzerland providing institutional equities services to overseas investors. It also has a (now less significant) holding in an investment trust specialising in short/medium-term funding for private companies in the period ahead of an IPO. It specialises in high-technology growth sectors in the USA and mid-cap companies in the UK. It has large high-quality research departments in both the UK and the USA. In the UK market-making is primarily in companies for which it is corporate broker to help provide liquidity but is also a profit centre, while in the USA market-making is a support function to equity dealing and is a cost centre.
Foreign buyers gorging on UK stocks
Document can be downloaded here: UK plc ‘going for a song’
Being a shareholder in a company that receives a juicy takeover offer is a marvellous feeling. Something that many fortunate investors have experienced over the past 3 years. Thanks to a spate of M&A bids by deep pocketed overseas buyers – partly triggered by the June 2016 Brexit result, which sent the £ tumbling and adversely affected the FTSE.
Consequently today, given this trend is unlikely to end anytime soon, we’ve highlighted 30 possible acquisition ideas in the attached research paper. Spilt equally between large and smallcap stocks – covering a broad selection of industries.
What’s more we believe most of these businesses are underpinned by strong fundamentals and substantial upside in the event of predatory interest.
According to Factset Mergerstat/BVR, the average bid premium paid for such deals between 2004-14 was 30% – with the figure trending upwards since the global financial crisis.
Happy investing. Published 27th August 2019