FKI rise 33% on bid news February 5th, 2008
FKI shareholders finally had something to cheer about following gains of 33% on the announcement that it had received an approach for the company. The gains took the shares up to 67p which is still some way off its 52 week high of 147p.
The company’s exposure to the US market, its own high levels of debt and the problems the credit crunch has brought, had seen the shares trade on a meagre price/earnings ratio of 4.5 before the announcement.
Analysts believe any deal could be some way off completion due to the difficult markets some of FKI’s divisions operate in.
