RS said to be facing takeover bid

Author: EIS Release Date: Aug 19, 2022

RS may be about to get a £15 per share takeover bid, reports the Times. The identity of the supposed bidder is not disclosed.

 

The bid would value RS at over £7 billion. At Friday’s close, the share price stood at £10.88 giving RS a market cap of £5.1 billion. The shares have risen 34% in the last six months.

 

Last week RS bought the Mexican distributor Risoul for $275 million.

RS Pro brand connectivity

 

For its financial year, to the end of March 2022, RS grew revenue 28% y-o-y to £2.55 billion for an operating profit of £308 million.

 

Announcing the 2022 results RS CEO Lindsley Ruth commented: “We are well positioned on our Journey to Greatness to drive stronger revenue and high-quality profitable growth to deliver significant sustainable value for all our stakeholders in making amazing happen for a better world.”