Wednesday, September 17, 2008

Wilmington Signals No Deal.

The Times is reporting that the long rumoured acquisition of Wilmington by HG Capital won't happen. Apparently it did not porve possible to put the deal finance in place. Ouch! Apart from the immediate downward impact on Wilmington shares, what does this say for othe quoted companies and the RBI deal? ITE, Centaur and SPG would all be happier in the private world, but if Wilmington can't get done, it is hard to see how any of them can escape from dull valuations of their businesses or the lack of liquidity in their stocks. Shareholders may have to be very patient indeed and hope that the businesses survive the curent economic malaise.

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