A cash offer has been received by Drax for BSIF at 92.574p, or 94.824p including the second interim dividend of 2.25p which shareholders would be entitled to keep. This represents a 9% discount to the March NAV of 104.5p, and a premium of +17% to Friday’s closing share price of 79p. Including -1p expected to come from CPS removal in the 2Q NAV, the discount is 8%. The offer is just for BSIF and does not include the management group. Overall, this is a very good outcome for shareholders. We do no ....
