The whipsaw effect of COVID-19 on capital market valuations got underlined again on Monday after the board of meal delivery business Youfoodz recommended shareholders accept a takeover bid from HelloFresh at an 82 per cent premium.
On the surface there’s nothing remarkable about a larger competitor bidding for a listed rival at a huge premium, but that’s not the whole picture.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
