Micro Focus International (MCRO)

Sector:

IT Services

Index:

FTSE 250

1,073.80p
   
  • Change Today:
      13.80p
  • 52 Week High: 2,491.56
  • 52 Week Low: 1,004.00
  • Currency: UK Pounds
  • Shares Issued: 333.40m
  • Volume: 359,546
  • Market Cap: £3,580.01m
  • RiskGrade: 207

Open Text pours cold water on Micro Focus acquisition rumours

By Josh White

Date: Monday 21 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Both Micro Focus and Open Text Corporation put the kibosh on reports that the Canada-based enterprise software giant was considering a takeover bid for its London-listed peer on Monday.
The FTSE 250 company had said it was pressing ahead with a review of its operations in August, after it slashed its full-year revenue forecast and watched its share price slide through the year-to-date.

On Friday, Bloomberg reported that Open Text had consulted advisors about whether to make an offer for the beleaguered Micro Focus, citing sources "familiar with the matter".

They reportedly said that a deal for the company would be challenging, given Micro Focus' large debt pile and "declining growth prospects".

As the news came after the close of trading in London on Friday, the positive reaction of investors was reflected in Micro Focus' American depository receipts, which rose as much as 13% on the reports.

However, on Monday morning, Open Text Corporation confirmed to the market that it was not considering a bid.

"OpenText, a global leader in enterprise information management, notes the recent press speculation and confirms that it is not considering a potential acquisition of Micro Focus," the Ontario-based company said in its statement.

Micro Focus also responded to the speculation, saying: "the Board of Micro Focus International notes the announcement by Open Text Corporation confirming that it is not considering a potential acquisition of Micro Focus."

As at 0807 BST, shares in Micro Focus were already down 6.71% at 1,014.6p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MCRO Market Data

Currency UK Pounds
Share Price 1,073.80p
Change Today 13.80p
% Change 1.30 %
52 Week High 2,491.56
52 Week Low 1,004.00
Volume 359,546
Shares Issued 333.40m
Market Cap £3,580.01m
RiskGrade 207

MCRO Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
95.79% above the market average95.79% above the market average95.79% above the market average95.79% above the market average95.79% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
84.26% below the market average84.26% below the market average84.26% below the market average84.26% below the market average84.26% below the market average
82.52% below the sector average82.52% below the sector average82.52% below the sector average82.52% below the sector average82.52% below the sector average
Income
84.83% above the market average84.83% above the market average84.83% above the market average84.83% above the market average84.83% above the market average
84.21% above the sector average84.21% above the sector average84.21% above the sector average84.21% above the sector average84.21% above the sector average
Growth
9.81% below the market average9.81% below the market average9.81% below the market average9.81% below the market average9.81% below the market average
17.53% below the sector average17.53% below the sector average17.53% below the sector average17.53% below the sector average17.53% below the sector average

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 5
Sell 1
Strong Sell 2
Total 13
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MCRO Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Sep-19 28-Feb-19
Paid 30-Sep-19 05-Apr-19
Amount 58.33¢ 58.33¢

Trades for 28-Jan-2020

Time Volume / Share Price
14:46 68 @ 1,073.80p
14:46 100 @ 1,073.80p
14:46 100 @ 1,073.80p
14:46 478 @ 1,074.20p
14:46 85 @ 1,074.20p

MCRO Key Personnel

CEO Stephen Murdoch
CFO Brian McArthur-Muscroft

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