Bloomberg, London, England, UK
Consolidation among the shaving forums is gathering pace, and the hot money is going on the Shaving Room as being the next to lose its independence. Shares of the UK based shaving forum were chased up to 604p, before closing 16p better at 597p amid talk of a £1.7billion, or £8 a share cash bid from US giant ShaveMyFace. Earlier this year rumours were rife that Badger & Blade - the world's biggest shaving forum which paid £844million for a shaving brush in 2008 - was stalking TSR.
Dealers heard whispers that SMF had even reached agreement with the owners of TSR to acquire a 16 per cent stake in TSR. An offer in the region of £8 a share would surely be hard for any shareholder to reject.
Eamonn Flanagan, analyst at broker Shore Capital, said in a note to clients: ''The gloves are off and the often mooted, long threatened consolidation story amongst shaving forums is firmly back on the agenda.'