Bond International shares shine as Constellation mulls bid
Shares in Bond International Software jumped 15% after Canadian software outfit Constellation said it was thinking about making a cash offer for the company at 105p a share.
Bond International Software
124.00p
14:39 07/12/16
FTSE AIM All-Share
745.62
17:04 20/09/24
Software & Computer Services
2,475.08
16:49 20/09/24
Constellation already holds 29.6% of Bond shares and the offer values Bond at around £44m.
Constellation is a Toronto Stock Exchange-listed company that acquires, manages and builds vertical market software businesses that provide mission-critical software solutions.
Bond issued a statement saying it would consider the offer and recommended shareholders “take no action at present and await a further announcement from the company”.
Constellation has until July 1 to decided on whether or not to make an offer.
Bond shares were up 13.5p to 101p at 1453 BST.