Just a point of clarification on my Micro Focus and Bain post yesterday. I erroneously said that Micro Focus' trading update would be next week. In fact, they brought this forward to Monday 9th May because of the bid.
To quote George O'Connor at Panmure Gordon "Micro Focus issued an early pre-closed update on Monday. The company has achieved results in line with its last guidance update (15 February), and net debt is in line with our view – it was down due to the share buyback. Micro Focus has achieved one significant hurdle and now has another, its sale. We applaud the team for delivering the results in what must have been trying circumstances."