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Capita’s Offer to Xchanging: How it Makes Sense
Oct 19, 2015, by Rachael StormonthOn October 14, the Xchanging board recommended a final cash offer by Capita of 160p per share. The offer, valuing Xchanging at ~£412m, represents a premium of ~44% to the closing price on October 2, 2015 (the last business day before the start of the offer period), 52% to the prior three-month average price and 64% to the one-month average price. Capita states it believes the acquis[...]