Servelec’s board has recommended an offer from Montagu PE to take the company private. At 313.1p, the offer looks a decent outcome given the short term challenges the group faces in both Health & Social Care and Automation. We continue to see strategic value in the group (a reason we selected Servelec as one of our Key Ideas for the year) and as such, would not rule out a counterbid from a trade buyer. Await developments.
