While the identity of the supposed bidder has not been disclosed it has been suggested that the bid could be in the region of £15 per share, which would value RS at over £7bn. At the end of trading on Friday the share price stood at £10.88 giving RS a market cap of just over £5bn.
A possible £15 a share bid would represent a significant premium to the present share price and is well above the £12.35 high the company’s shares hit in November 2021.
In the financial year to the end of March 2022, RS grew revenue 28% y-o-y to £2.55bn for an operating profit of £308mn.
RS also recently acquired the Mexican distributor Risoul for $275mn.
