Franchise Brands (LON: FRAN) has launched a recommended all share bid for kitchen services provider Filta Holdings (LON: FLTA) at a time when the target is set for a profit bounce back. This looks a good fit for Franchise Brands.
The offer is 1.157 shares for each Filta share. Franchise Brands shares were trading at 147.5p each, so Filta was valued at 170.7p a share, capitalising the company at £49.8m. The share price has not been that high since last summer. The Franchise Brands share price fell to 142.5p, so that cuts the value of the bid to 165p.
Management and related parties own th...
