Shares digital

Shares in semiconductor production equipment expert Bede (BED) slumped 26% to 0.65p after revealing July’s preliminary approach has yielded a bid below the firm’s market valuation. Bede also admitted its £1.1 million net debt position means the firm will require additional financing next quarter.

The chip-making machinery sector has recently seen a wave of consolidation. Industry giants Applied Materials (AMAT:NDQ), LAM Research (LRCX:NDQ) and KLA-Tencor (KLAC:NDQ) have swooped for Brooks, SEZ and ICOS respectively.

Shares says: Punting on takeovers is a high risk strategy. RM

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