XP Power Ltd (LSE:XPP), 4imprint Group Plc (AQSE:FOUR) and Alpha Group International PLC (AIM:ALPH) are the most widely held stocks by investment trusts that focus on the UK smaller company sector. Each appears in the portfolios of eight different London-listed investment funds, according to research by the Association for Investment Companies.
Shares of XP Power Ltd (LSE:XPP) dropped by 19% in early deals after Advanced Energy Industries binned its £470 million bid approach - one of three for the UK power systems group. Advanced walked away after deciding 1,950p a share was as high as it wanted to go, adding that it felt it "captured the potential of future market recovery while factoring in near and intermediate-term market and operational risks facing XP Power as a standalone company".
XP Power Ltd (LSE:XPP) has rejected the third “unsolicited approach” from US energy company Advanced Energy despite the bid placing a knock-out 68% premium on yesterday's closing price. London-listed XP Power called the bids “a series of highly conditional, opportunistic, indicative proposals from Advanced Energy”.
XP Power Ltd (LSE:XPP) has received a “possible” all-cash offer from US technology company Advanced Energy Industries for 1,950p per share. This latest offer values the company at £468 million and represents a 68% premium to XP Power's closing share price and an 82% premium to its 30-trading day volume-weighted average price.