2 July 2018 – rebuttal of possible bid
The company has revealed that following talks with Consort Medical at the end of May, it received a potential bid approach from Consort valuing each Carclo share at 116p per share. The consideration was due to be paid in new shares in Consort Medical. Carclo rejected the offer on 1 June and has rejected subsequent requests for a meeting with Consort. As the value of the bid was to be 116p per share, that implies 0.0973 new Consort share for each Carclo shares with Consort shares trading at 1192p, being the closing price last Friday. Carclo has stated that if Consort returns with a higher offer that fully reflects the value of Carclo shares it would happily enter talks with Consort. Shares in Carclo seem likely to be underpinned by this announcement and therefore remain a BUY.