Markets were alerted today that Metro Int had received a unsolicited bid for the Company. Share bounce 60%.
Cant think who the bidder could possibly be (maybe former CEO Pelle Tornberg?) but bear in mind that the company is valued at £30m today (and thats after todays share price rise). Set that against the value of the business when we were there in 2005 when the company was worth £900m (frothy eh)its a bit of a bargain.
I would absolutely buy it for £30m as i think its got huge unrecognised value. 20m + daily readers all aged somewhere between 18 - 45. Sweet. Id ask Per Michael Jensen to stay on and run it as he is making all the right moves and we would exploit those reader relationships to bits.
I am told the Directors turned down a bid for £500m in 2007 so they are unlikely to agree something in the 30m range or are they?!!