We write after recently banking an approaching 32% bid price to offer price gain on another company takeover approach. The company we now replace that with in the portfolio has already had takeover interest into early this year and its recently announced half-year results highlight why and suggest the shares are a Buy.
‘Engineered electronics’ company TT Electronics (TTG) has issued an “AGM Trading Update” including first four months of 2026 “book-to-bill was 107%, underpinned largely by Aerospace and Defence… making good progress against our strategic priorities… and the board continues to expect adjusted operating profit for the year to be in line with company compiled consensus”. What about a share price response lower to below 118p?
Most recently on TT Electronics (TTG), on 15th December with the shares falling below 114p I reiterated prior caution with DBAY’s ‘intends to vote against the Cicor offer as it believes that the terms are unattractive’, despite being unwilling to even match them itself, meaning it looked likely the current recommended offer will not succeed. There’s subsequent to that been ‘Adjournment of Court Meeting and General Meeting’ news, including today, and what of the shares currently further down at 111p in response?
DBAY Advisors has announced that “it does not intend to make an offer for TT Electronics” though, with there already a 150p per share recommended offer for TT Electronics from Cicor Technologies, what about shares in TT currently more than 14% down at below 114p?
Engineered electronics company TT Electronics (TTG) was yesterday “pleased to announce” a recommended offer, but 16.5% shareholder DBAY Advisors has subsequently responded with that it “is happy with the progress the business is currently making, and is therefore not supportive of the acquisition”. What of now TT Electronics’ response to that?
TT Electronics (TTG) is “pleased to announce… agreement on the terms of a recommended cash and share acquisition pursuant to which Cicor will acquire the entire issued and to be issued ordinary share capital of TT”. How ‘pleasing’ are the terms?
TT Electronics (TTG) has issued an “AGM Trading Update” including that “the Aerospace and Defence sector remains strong in the current climate” and that it “continues to expect adjusted operating profit for the year to be in line with previous guidance”. So what about a share price, already down from approaching 170p within the last year, currently further down below 110p?
In January engineered electronics company TT Electronics (TTG) was “delighted to be able to announce” the appointment of “Eric Lakin to succeed Mark Hoad as Chief Financial Officer, following the announcement on 14 November 2024 of his intention to retire after 10 years with the group. Eric is a highly experienced CFO with a proven track record in engineering and industrial sectors”. So with now the company announcing “Richard Webb will join TT as Interim Chief Financial Officer and a member of the board”, what’s going on?
Most recently on engineered electronics company TT Electronics (TTG), in February with the shares down to 77.4p I wrote ‘“Update on 2024 Final Results” announcement is actually also a 2025 profit warning!’, concluding with its trading trajectory and delayed results just on the watchlist. The shares most recently closed at 83.2p but now the results announcement and more, and what of the shares currently in response at 75p?
