Performing - part 2

It looks like that rather large block trade in Perform shares from earlier in the week was nothing more than an institutional seller exiting to a bunch of risk arbitrageurs (hedge funds that bet on takeover bids).

In case you forgot, here is a link to the piece I did earlier in the week:

Performing

A rather large line of Perform stock - over 40 million shares - changed hands in almost one go at the close of the London market this evening. Investec is thought to have done a lot of the business (lucky them).

I'm not quite sure what the implications are of this share sale but it certainly sounds like something is cooking. For readers that don't recall, sports media company Perform has received a 260p a share/£700 million takeover approach from its largest shareholder, the US/Ukranian billionaire tycoon Len Blavatnik.

3 normally makes a journalistic "trend" but in this case...

In journalism hacks can claim to have discovered a new trend if they find three similar case studies. So, this piece may be a bit premature but I thought it would be worthwhile pointing out nonetheless.

Len Blavatnik's attempt to buy sports rights company Perform for £700m is the second time in the space of a month that the UK has seen an entrepreneur try to take the company in which he has substantial shareholding off the stock market.