On 23-Jan-2012 it announced that
it has received a confidential, non-bindingIAE is looking overbought at the moment, having jumped from about 140p to 175p over the last week. A theory is that there should still be enough maneuvering room for a premium price even at these levels.
proposal to acquire all of the outstanding shares of the Company
It has a market cap of£451m, and a nice cash position of £108m. It trades on a PER of 12.6. Analysts are forecasting an EPS of 41.65p, which would put it on a forward ratio of 4.2. Not bad, even if the bid doesn't work out.