Feeds

Compel urges shareholders to stay put

85 million offer taking the mickey

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

Computacenter has been labelled "opportunistic" by Compel after launching a hostile bid for the reseller.

"The board of Compel regards Computacenter's current proposal as opportunistic and one which significantly undervalues the company," Compel said in a statement.

"Consequently, the board of Compel advises shareholders to take no action with regard to their shareholding in Compel."

From the message , it appears that Compel directors would not be too averse to the company being bought, more that the price is too cheap.

Compel said it first received the 275p per share proposal from reseller giant Computacenter on May 22, but thought the offer was not high enough. The two met last Thursday, with Compel trying to persuade Computacenter it was worth more.

But Computacenter refused to up its bid. "Consequently, discussions were terminated, although Compel made it clear that it was prepared to resume discussions if Computacenter increased its proposed offer significantly," Compel said.

As for Specialist Computer Holdings camp, which bought 3.5 million shares in Compel two weeks ago, all was quiet. Directors were no doubt watching in glee as their investment closed up 55 pence at 267p yesterday, almost a third higher than they paid for them. ®

Internet Security Threat Report 2014

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.