Fidson denies acquisition/merger plans with May and Baker

In a press release sent to the Nigerian Stock Exchange (NSE) on Thursday, Fisdon healthcare denied any plans to merge/acquire May and Baker plc. Here are key highlights from the statement:

• The press release was due to inquiries from the Nigerian Stock Exchange (NSE)
• Fidson is not in any discussion directly or indirectly that may lead to a merger of the two companies.
• There is no discussion of any sort either contemplated or ongoing about acquiring May and Baker Plc
• The information going round is baseless and speculative.

Here is a copy of the press release.

Nairametrics had last week written in respect of the rumoured merger. Prior to this, shares in both companies had appreciated massively, as several investors may have bought shares to take advantage of any arbitrage opportunities. Year to date, Fidson shares are up 59.38% and May and Baker 55.32% respectively. Both out performing the NSE All Share Index which is up 5.93%

Fidson healthcare was founded in 1995, and listed its shares on the NSE in 2008. May and Baker was founded in Nigeria in September 1944. The company became publicly quoted, following its listing by introduction on the NSE on the 10th of November, 1994.