Scaparing!
This AIM struggler is getting acquired by a US listed company. While the acquisition price is far below historic highs it looks a good deal for shareholders given the legacy issues with this business. The Chief Executive has certainly benefited handsomely over the years, shareholders less so in recent years. Read on for our usual forthright thoughts.
Scapa Group (LON: SCPA), the diversified healthcare and industrial company which makes advanced woundcare products and industrial bonding solutions, has received a takeover offer from US listed Schweitzer-Maudit International Inc (NYSE:SWM). Scapa is one of our earlier 'Bonkers Valuation of the week' (not to be confused with our Bonkers Bargains which are considerably more appealing!) which we assessed when the shares were trading at the heady level of 335p. Our assessment here highlighted numerous issues, many of which came to pass, although the pandemic clearly also escalated its problems. We hope readers heeded our warnings! The offer price at 210p per share in cash, an…