Ricardo PLC Proposes Adjournment of General Meeting Amid Acquisition Plans

Ricardo ( (GB:RCDO) ) just unveiled an announcement.

Ricardo PLC has announced the proposed adjournment of a requisitioned general meeting initially called by Science Group plc and Ropemaker Nominees Limited. This decision follows the withdrawal of the requisition notice by Science Group after the announcement of a recommended cash acquisition by WSP Group Limited, a subsidiary of WSP Global Inc., which plans to acquire all issued and to be issued share capital of Ricardo. The acquisition terms are set at 430 pence per Ricardo share, with provisions for potential adjustments under specific conditions. This move is expected to significantly impact Ricardo’s operations and market positioning, as it aligns with WSP Global’s strategic interests. The Board advises shareholders not to attend the now unnecessary meeting, although they may do so if they wish.

The most recent analyst rating on (GB:RCDO) stock is a Hold with a £280.00 price target. To see the full list of analyst forecasts on Ricardo stock, see the GB:RCDO Stock Forecast page.

Spark’s Take on GB:RCDO Stock

According to Spark, TipRanks’ AI Analyst, GB:RCDO is a Neutral.

Ricardo’s overall score is driven by strong technical indicators and strategic corporate events. Financial performance is stable, but profitability challenges and governance risks weigh on the score.

To see Spark’s full report on GB:RCDO stock, click here.

More about Ricardo

Average Trading Volume: 363,770

Technical Sentiment Signal: Sell

Current Market Cap: £208.4M

Find detailed analytics on RCDO stock on TipRanks’ Stock Analysis page.