InterX distie arm still for sale

Share dealers excited

InterX shares were up 80p today to 3,180p on news that it was increasing its proposed placing and open offer by 20 million to a total of £50 million. This is wierd psychology: shares are supposed to go down on news like this, especially when executive shareholders are flogging shares at the same time. According to AFX, dealers were also excited that that InterX is "progressing the separation" of Ideal Hardware from the group. But why should this be? The industry has known for months that Ideal Hardware was up for sale, and that Broadview, the investment bank has been engaged to find a buyer. The City has known for weeks (courtesy of trade paper CRN UK) that Ingram Micro is the favourite candidate to buy Ideal Hardware. Anyone with an ounce of sense would realise that the longer it takes to sell Ideal Hardware, the worse the price InterX will get. IT hardware distribution businesses ain't worth so much these days, and their currency is depreciating quickly. Still, the sale of Ideal Hardware should bring in at least £50 million, and maybe as much as £60 million, to InterX coffers. Related stories InterX share price goes through roof Ideal to split from parent group

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