Tribal Group receives bid approaches

first_img TRIBAL Group, which provides government outsourcing services and coordinates school inspections, saw its shares leap yesterday after confirming it had been the subject of a slew of takeover approaches.The interest is thought to have come primarily from private equity companies, with Asia-focused New Silk Route (NSR) or larger rival Capita touted as potential buyers. Analysts said Tribal’s budding Asian education software business would strike a chord with NSR’s strategic focus on investing in Eastern markets.Tribal’s government business also looks attractive to bidders as the Aim-listed company positions itself as a leading consultant to the public sector, to help steer it through the slimming-down process prompted by the coalition’s austerity drive.“The company is very well-positioned to support public sector organisations as they undertake change and to participate in an expected acceleration of outsourcing opportunities that will contribute to the improvement in public sector efficiencies,” Tribal said in an update yesterday.Reports put the potential price tag for Tribal at around 100-125p a share, though sources close to the firm said a bid at that level would be viewed as relatively low-ball. Taking house broker Investec’s year-end EPS forecast of 11.6p as a basis, a bid at 125p per share would put the company’s valuation at under 11 times earnings – a marked discount to larger rivals such as Capita, which trades at over 17 times earnings.“Tribal confirms that it has received preliminary expressions of interest which may or may not lead to an offer being made,” the firm said yesterday. KCS-content Tribal Group receives bid approaches Show Comments ▼ whatsapp Wednesday 11 August 2010 8:22 pm Share whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comConnecticut man dies after crashing Harley into live bearnypost.com Tags: NULLlast_img

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