With Electronic Data Systems Corp having until the end of the week to come back with a higher offer than its current 45 pence per share for SD-Scicon Plc, the target came out with a stunning profit forecast over the weekend, saying that it would do at least UKP14m, 4.07 pence a share for the current year and up its dividend by 33%, after reporting a UKP20m loss last year; Scicon’s shares are trading at around 59 pence, making it clear the market believes the General Motors Corp subsidiary will have to pay significantly more to win the prize, despite having British Aerospace Plc’s 25% stake under its belt; SD-Scicon also said that defending against the bid, and that from Cray Electronics Plc had already cost it an alarming UKP2m; see also page 5.
