Sep 29, 2026 · 13 min
Vesuvius shares move after bid approaches
Morning Movers
The episode captures how potential takeover interest can quickly redirect investor attention toward a UK-listed engineering company.
- 1Vesuvius reports receiving bid approaches, prompting movement in its share price.
- 2Paul Scott leads with the breaking announcement before turning to the morning market format.
- 3The news places investor focus on potential corporate activity in a specialist engineering business.
Don't miss
Paul Scott reports that Vesuvius has received bid approaches, sending its shares into motion.
The brief
Paul Scott opens the morning show by setting out its date and format, then quickly turns to breaking news from Vesuvius.
Vesuvius has received bid approaches, and its shares are moving as investors assess the possibility of corporate activity.
The announcement matters because Vesuvius supplies specialist technologies to steel and foundry industries, making the bid interest highly company-specific.
The episode’s central development is simple but consequential: potential takeover interest has made Vesuvius the morning’s key market mover.
What was said on this episode
27 statements · 18 positive · 8 negative · 1 neutral
Vesuvius shares have traded in a false market since March.
“Vesuvius shares have been in a false market since March.”
Listen at 0:56
Investors should campaign to change undisclosed takeover-bid negotiations.
“we've got to get— we've got to campaign to get this ridiculous system changed where companies are negotiating premium price takeover bids behind closed doors and they don't tell anyone.”
Listen at 1:03
Regulatory change requires complaints to MPs and the FCA.
“Nothing will change unless we bombard our MPs and the FCA and all the rest of them with complaints about this.”
Listen at 1:31
Mobility One's results and restored trading appear reassuring.
“it must be reassuring there.”
Listen at 2:30
Close Brothers trades substantially below net tangible asset value.
“it's still trading way, way, way below net tangible asset value.”
Listen at 2:45
Pennant's turnaround is not yet convincing.
“I'm not 100% convinced by the turnaround yet”
Listen at 3:20
Brynmor Shipping appears attractively valued.
“we think it does look good value”
Listen at 3:59
ZigUp is attractively valued.
“ZigUp is good value.”
Listen at 5:01
Prolonged high bond yields should negatively affect equities.
“if this is the new normal of prolonged high bond yields, then that should be negative for equities”
Listen at 5:25
Persistently high bond yields should weigh on equities.
“that should be negative for equities”
Listen at 5:29
Card Factory shares are substantially undervalued.
“these are staggeringly cheap.”
Listen at 6:06
Card Factory is not a terminally declining business.
“the market's pricing it like a terminally declining business, but it's not.”
Listen at 6:10
Card Factory's diversification into celebrations products is the right strategy.
“It's morphing from just a card shop, Card Factory, into a general celebrations type shop with lots of other product lines. That's absolutely the right strategy.”
Listen at 6:21
Card Factory is extremely cheap at roughly 5.7 P/E and 7.3% sustainable yield.
“You're looking at a PE of 5-point-something, 5.7, and a dividend yield, a sustainable dividend yield I would say, of, where is it, of 7.3%. It's stunningly cheap.”
Listen at 6:32
Card Factory shares are significantly undervalued.
“I think the shares are far too cheap.”
Listen at 7:46
Card Factory could receive an overseas takeover bid.
“Wouldn't surprise me if you get a bid from overseas, from America maybe, who knows?”
Listen at 7:48
Paul Scott recommends continuing to hold Card Factory.
“I'm more than happy to keep holding Card Factory.”
Listen at 7:56
Card Factory's negative net tangible asset value is not material.
“the £45 million negative net tangible asset value doesn't matter.”
Listen at 8:07
Wilmington is a quality, profitable business trading at about ten times earnings.
“The PE, I think, is only about 10, and it's a decent quality business that makes good margins.”
Listen at 8:44
Investors should examine Wilmington more closely.
“I think Take a closer look at Wilmington, WIL.”
Listen at 8:59
Wilmington appears attractively valued based on a quick review.
“the numbers, quick desktop review, look good value to me.”
Listen at 9:05
Wilmington merits further investigation.
“I think that's worth a rummage.”
Listen at 9:09
A £1.11 Tribal Group offer would be favorable.
“that would be lovely, wouldn't it?”
Listen at 9:46
Genzabar's funding for the Tribal Group offer should be examined.
“I think we'd like to see what funding they have for doing this.”
Listen at 10:02
Paul Scott evaluates Zoo Digital unfavorably.
“I just don't rate this”
Listen at 11:33
The recent rise in housebuilders and building supplies companies is justified.
“I think that's absolutely right.”
Listen at 11:56
Paul Scott is bullish on most builders and building-supplies companies, excluding two firms.
“I'm very bullish on the builders and the building supplies companies, apart from Kress-Nicholson and Vistri, which are too problematic.”
Listen at 12:01
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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