Ricardo Responds to Science Group's Takeover Attempt
Why we think this is neutral
This RNS is a general update in response to an announcement from Science Group plc. It does not contain any of the mandatory news types that would require a more detailed analysis. The company is facing an unwelcome distraction as Science Group looks to replace board directors and take effective control of the company without paying a premium.
Key Points
- Science Group has become a shareholder in Ricardo and is looking to replace board directors
- Ricardo's board states this is an unwelcome distraction at a time when the company is executing its strategy
- Ricardo will act in the best interests of the company and its shareholders
Summary
Ricardo plc has issued this RNS in response to an announcement made by Science Group plc. Science Group has become a shareholder in Ricardo and is now looking to replace board directors and take effective control of the company without paying a premium. Ricardo's board states that this is an unwelcome distraction at a time when the company is working to execute its strategy and deliver value for all shareholders.