If it's Friday there must be a bout of takeover speculation, and the latest supposed target is IT group Sage.
The FTSE 100 company is reported to be in the sights of either SAP or IBM, which has helped drive its shares 4.9p higher to 285.7p, making it the biggest riser in the leading index. At that level Sage is valued at around £3.8bn.
This is not the first time takeover talk has swirled around the company, but the latest rumour follows a piece in Computing magazine.
Meanwhile Laird, the electronics group which yesterday rejected a 185p a share offer from US group Cooper Industries, has announced a restructuring. It plans to close down its handset antennae business after falling demand from its key customer, that is, Nokia. The company said the closure would be cash positive to the tune of £20m but would result in an impairment charge at the half year. Despite this Laird, 5.5p better at 194.4p, said its expectations for the year remained unchanged. The bid defence starts here.
