Alpha FMC shares soar on two takeover approaches
Shares in financial services consultancy
The company issued a statement responding to recent press speculation and confirmed it had received a "non-binding indicative proposal [...] regarding a possible case offer for the entire issued and to be issued ordinary share capital" from investment firm Bridgepoint Advisers.
Private-equity company Cinven is also said to be considering a possible offer, although no indicative offer proposal has been received as of yet, Alpha FMC said.
"There can be no certainty that any firm offer will be made for Alpha FMC, nor as to the terms on which any firm offer might be made," the statement read.
Both Bridgepoint and Cinven have until the close of business on 29 May to announce a firm intention to make an offer.
Shares were up 39.8% at 468.46p by 1135 BST, giving Alpha FMC a market capitalisation of £532m.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.