Premier Technical Services 140% premium - who missed out?
Premier Technical Services, the niche specialist services provider, has agreed to be acquired for a huge 140% premium to the share price the day before the offer was announced. How did investors miss out on such a glaring opportunity?
Premier Technical Services Group (LON:PTSG) is a leading provider of lightning protection, electrical testing, specialist building access and fire solutions. With its headquarters in West Yorkshire, the group employs around 1,200 people across 31 UK sites, who service more than 180,000 buildings across the whole of the UK. PTSG was admitted to AIM in February 2015 at a share price of 52p and market capitalisation of £45m, having been founded in 2007 by a group of individuals including current chairman John Foley and chief executive Paul Teasdale. Following AIM admission the shares initially performed strongly, touching a high of 218p…