Action suspends shares

Could there be an acquisition announcement waiting in the wings..?

Action Computer Supplies suspended its shares yesterday morning after a fall in price, prompting speculation that an announcement concerning the company's impending sale was in the offing. The PC reseller asked that trading in its shares be suspended "pending an announcement." Shares were frozen at just over £2.70, against a mid-month high of £3. A company representative said they were awaiting a statement from Action, but could not say if it would be made this week. In May, US giant Insight confirmed it had agreed a $150 million bid to buy Action. The all share offer worked out at 260.7 pence per Action share. ®

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