Cobra looks to benefit from Towergate's bid on TBN
Cobra’s value has been underestimated in the context of Towergate’s bid for the Broker Network, according to a report by research firm Fairfax, commissioned by Cobra Holdings.
Broker Network Holdings has agreed to be taken over at 605p in cash by Towergate Partnership. This equates to an exit multiple of 15.9x. (based on market consensus eps of 38p to 4/08) which compares
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