Shares in Ultimate Finance were suspended this morning subsequent to an announcement that talks were well down the road leading to a reverse take-over of another factoring company.
Needless to say the wires have been hot with speculation today and so far it has been confirmed that 15 different factoring companies were the target according to 15 different people with Bibby being the only one so far that hasn’t been mentioned.
I will admit now that I honestly haven’t a clue who the target is and although I can rule out many of those being speculated about on the basis of size, culture or geography I can’t come up with a sure fire alternative.
A little birdie has told me that an announcement will be made on Tuesday whereupon all will be revealed
It seems that Insolvency News have jumped the gun and announced that Ashley Commercial Finance has just been acquired by Ultimate Finance.
As a matter of interest the article appears on their website just two places above “Lap Dancing Boss Poleaxed”