

Technical Summary: EPO is one of the most interesting situations that is currently playing out in the world markets. EPO is listed on the AIM exchange in London. It is a small payments company that has found itself the subject of competing takeover bids from the two giants in the space – Mastercard and Visa. Prior to the takeover action the stock had lanquished over the last 5 years. Moving from over 50 pence per share to lows of around 7 pence. This was until just before Christmas where Visa launched a takeover offer at 30 pence per share. The stock naturally gapped up to around 28 pence per share where it held steady for about a month before Mastercard lobbed a competing bid at a 10% premium to the Visa bid at 33 pence per share. Interestingly the market is predicting another bid from Visa as the stock is trading above 35 pence per share. It will be fascinating to see how this battle of the titans pans out.