In just a few days, small security technology group Amalgamated Electronic Corp (Amecor) has gone from hunter to hunted.Last week Amecor, at the release of strong year-to-end-March results, hinted that its strong cash-flow generation would not only underpin dividends and share buy-backs but also allow the company to evaluate acquisitions.Yet the ink had hardly dried on the financial commentary before Amecor advised shareholders that it had received, from a third party, a non binding expression of interest to buy out the company.There are only a handful of security companies listed on the JSE — but these specialist services are considered a sweet spot (due, sadly, to a rising crime rate) in a moribund economy.Developments have spurred on Amecor’s share price, with newly formed investment counter Stellar Capital Partners and vehicle security specialists like Cartrack and MiX Telematics cited as possible suitors.Amecor holds a market capitalisation of less than R300m, which means any s...
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