Abbey Protection (ABB)

Abbey Protection (ABB)

Blog posts

Abbey Protection – a lowball bid offer

  Abbey Protection (ABB) is an AIM listed insurance company with a current market cap of £115m. The shares have traded between 116p to 122p in the last two months, with a reasonable volume for an AIM company. But yesterday the directors announced a recommended cash offer of 115p per share for the company from Markel Corporation. This is a very unusual situation because usually there is a “bid premium” for control of a company. The market price was presumably what willing buyers ...