Strong gains to start the week for the semiconductor company Alphawave after the company’s management reached agreement with Qualcomm over terms for an all-cash sale. Talks here have been going on since the start of April and the takeover deadline had been extended but this morning’s news was sufficient to see the Alphawave share price jump more than 20% to 181p. The offer price reflects a 94% premium from before the bid was tabled.
A programme update from the Canadian focused metals exploration company First Class Metals appeared to generate some interest in the market in early trade on Monday. The report highlights activities undertaken over the winter, with management concluding the phase as having been successful. There’s a slew of technical data included in the report but the market reaction has been positive with the First Class Metals share price up 7% in early trade.
Keeping with the small cap stocks and Revolution Beauty saw its shares jump higher this morning after the company confirmed a number of prospective bidders were conducting due diligence, including the retail powerhouse Frasers Group. That has been enough to reinvigorate interest in the company with the Revolution Beauty share price adding as much as 23% shortly after the open, although some of those gains were quickly handed back.
Most read news on Investegate this morning
Recommended Acquisition - - Alphawave IP Group (AWE)
Statement re Possible Offer - - Frasers Group (FRAS)
New Executive Team Appointments - - Pantheon Resources (PANR)
