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Morse reveals undervalued offer has been made

Microscope contributor

Morse has shrugged off an approach which it believes undervalues the company hinting that it was not certain any acceptable offer would be made.

 

Reacting to recent media reports that it was the target of a bid Morse issued a statement revealing that offers valuing the company at 25p per share "significantly undervalues" the reseller.


"These preliminary approaches may or may not lead to an offer being made for the Company. There can be no certainty that an offer will be made," added the statement.


Morse is issuing a pre-close trading update tomorrow with its premilimary results for the year ended 30 June coming later in September.


The Morse statement has already had an impact on shares with them rising 19% this morning.

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