All eyes on John Menzies [LSE:MNZS] shares this morning, with the stock up 24% on the day and no real secret in the market why we are seeing this activity. The company is the target of a takeover effort from Agility Public Warehouse Co, which has now led to Agility agreeing to buy a 13% stake in John Menzies.
Agility Public Warehouse is a Kuwait-based logistics company and has made a series of cash offers for John Menzies since the start of the year. Agility is using a subsidiary, National Aviation Services, to make its offers through. Its current bid for the company is 605p a share. At time of writing John Menzies was trading at 584p with a 30 day relative strength up over 45%. But is it worth it? We look further into the numbers.
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