{"id":51765,"date":"2014-05-26T02:55:29","date_gmt":"2014-05-26T06:55:29","guid":{"rendered":"http:\/\/countingpips.com\/?p=51765"},"modified":"2014-05-26T07:01:12","modified_gmt":"2014-05-26T11:01:12","slug":"why-the-sai-global-share-price-popped-today","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/05\/why-the-sai-global-share-price-popped-today\/","title":{"rendered":"Why The SAI Global Share Price Popped Today"},"content":{"rendered":"
May 26, 2014<\/div>
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By MoneyMorning.com.au<\/u><\/a><\/p>\n

What happen to the SAI Global Share Price?<\/h2>\n

\nShares of SAI Global Ltd [ASX:SAI]<\/b> gained more than 17% Monday, after the company received a takeover bid from private equity firm, Pacific Equity Partners.\n<\/p>\n

Why did this happen to the SAI Global Share Price?<\/h2>\n

\nThe takeover bid from Pacific Equity Partners values SAI Global at $1.11 billion. That\u2019s significantly above the $902 million market valuation of the company at Friday\u2019s close. Clearly the private equity firm sees an opportunity to wring more profits out of SAI Global, a company that has achieved steady revenue and profit growth over the past 10 years.\n<\/p>\n

What now for SAI Global?<\/h2>\n

\nThe takeover bid values the company\u2019s shares between $5.10 and $5.25. The company\u2019s board hasn\u2019t announced whether it intends to accept or reject the offer. Unlike takeover offers seen in the resources industry, it can\u2019t be said that this is an opportunistic move.<\/p>\n

Prior to the takeover bid the company\u2019s shares were trading at $4.28 per share, that\u2019s only marginally below the highs reached in 2012, and significantly higher than the low of $3.30 last year.<\/p>\n

In an unusual twist, the company\u2019s board fired chief executive officer Stephen Porges. The company reported that Porges was fired due to \u2018fundamental differences of opinion\u2019 between him and the board. At the close the shares were trading below the takeover level, which could suggest there is some doubt about whether the board will accept the bid.\n<\/p>

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\nBy MoneyMorning.com.au<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By MoneyMorning.com.au What happen to the SAI Global Share Price? Shares of SAI Global Ltd [ASX:SAI] gained more than 17% Monday, after the company received a takeover bid from private equity firm, Pacific Equity Partners. Why did this happen to the SAI Global Share Price? The takeover bid from Pacific Equity Partners values SAI Global […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-51765","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/51765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=51765"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/51765\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=51765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=51765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=51765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}