Novacyt Potential Takeover

[FletchRGJ]

Hi All

 

Hoping for some help / advice, I have a spread bet long position (several) on Novacyt share and its doing reasonably well. There are rumours of a takeover or buyout at a far higher price than its at now.

 

Does anyone know what happens in the event of this happening?

 

For example if its 1000p a share now and the takeover is 2000p I assume I would get the 2000p value and effectively double my profit? Conversely if it was 500p I would be down 50%.

 

Much appreciated for help in advance.

[Guest Big Man]

You never normally get a takeover approach for less than the current share price as the idea is to get shareholders to vote it through 

The share price normally goes to within a few % of the takeover offer so you can sell them there and then or hold out for the takeover price which might come 3 or 4 months down the line whereby your shares are sold and your account credited automatically