Back in March Kensington, the UK ‘sub prime’(that’s US speak) mortgage specialist announced that it was still in discussions with a number of parties who had approached it. Today it announced that was in advanced discussions with a view to announcing a recommended offer. However, they went on to say that in the event that an offer is made it is likely to value the group at a price below yesterday's closing share price of 560.5!

There didn’t appear to be much left for the smaller investor. However, since deciding to exit the position I note the shares are trading at c481p which is now 'materially' below yesterday’s closing. Can one assumne that there are now potential short terms trading opportunities!

Today’s announcement simply stated that any deal would be at a price below yesterday’s closing share price, but not ‘materially’ below it.

Great fun, we shall see what happens!