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Read on to see an article posted on the OMG blog on 25 December 2017:

Out of Styles

Styles & Wood (LSE: STY) is recommending a 465p a share cash offer from Central Square Holdings which values the property contracting and project fit-out services provider at £42.5m. There will not be any final dividend, though.

Central Square has a stake in Southerns, which is a property services business that sources furniture and equipment and it plans to acquire the rest of the shares and put the two companies together. The chairman, chief executive and finance director of Styles & Wood will take on those roles at Central Square.

Styles & Wood has been successfully turned around in the past few years and profit has been growing – helped by earnings enhancing acquisitions. The bid values the company at less than ten times prospective 2017 earnings so it is not generous, but it has the backing of the majority of shareholders.

The bid represents a good gain on a recommendation that is three months old.

Buy Now - £72.60/year

Trading strategy

Accept the bid.

Original recommendation: 358p/375p


Styles & Wood (LSE: STY)


Mkt Cap £42.5m

Buy Now - £72.60/year

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