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Tarsus - Largest acquisition in its history

January 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • TRS
  • Price:
  • 265p
In an exciting development Tarsus has acquired an 80% interest in Connect Meetings for an initial US$44m (the biggest deal in its history), part financed by a placing of up to 10.25m shares at 235p to raise £24m before expenses. The balance will be paid by its bank facilities, which have increased to £111m, versus forecast year-end net debt of £69.8m. Connect is a leading US travel and meetings event organiser servicing a large market worth US$300m in 2016 and growing at a 4% annual clip thanks to booming business travel, which in turn drives demand for hotel rooms and event space. Connect ran 13 US events this year, its flagship being “Connect Marketplace (almost half its sales) in August. It also ran ...

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