Stock Market hype: perfectly illustrated by Science in Sport
The sports nutrition company’s latest acquisition is either a damning indictment of the folly of its stock market valuation or a bargain purchase from a usually canny Walgreen Boots Alliance – take your pick!
Science in Sport (AIM:SIS), the AIM-quoted sports nutrition company, which develops, manufactures and markets sports nutrition products for elite athletes and sports enthusiasts, is acquiring PhD Nutrition (PhD) for £32m of which £28.5m is in cash and the balance in shares. The cash element of the acquisition has been satisfied by a £29m fund raising at 60p per share – a 14.3% discount to the share price before the announcement.
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