Quindell
The numbers
Quindell has reported
Here's why it's interesting
Quindell recently issued close to 850,000 shares as it moved to takeover Navseeker, after a legal dispute with the company. In early March, the troubled insurance outsourcer settled a US litigation in which it was claimed that Quindell and others had “misappropriated the entire value of [Navseeker] for themselves, with no compensation to the company of its minority shareholders”.
However, Quindell shares rose significantly last week following talks of a takeover. Australia’s law firm Slater & Gordon was reported to be considering buying Quindell’s legal services division for more than £640m.
Quindell initially announced it was in talks with the Australian law firm on 22 January. At the beginning of this month, the insurance claims processor released a statement saying the talks were still ongoing.
It's since been beset by problems. By the end of 2014, chairman and founder Rob Terry had resigned, as had its broker, Canaccord Genuity, while investor Fidelity halved its stake.