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Home Companies Company News

Fidson denies acquisition/merger plans with May and Baker

Onome Ohwovoriole by Onome Ohwovoriole
May 26, 2017
in Company News
Ohara Pharmaceutical increases stake in Fidson, Fidson and Ohara signs partnership, Nairametrics news, Naija News, Fidson list additional shares Fidson and GSK business partnership

Fidson Healthcare Plc building

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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%

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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.

Tags: All Share IndexFidson Healthcare PlcMay & BakerNigerian stock marketNigerian StocksNSE
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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Comments 1

  1. Anonymous says:
    October 31, 2018 at 10:54 am

    Arbitrage and Arbitrageurs
    So glad you know your onions.

    Reply

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