FTSE 250 movers: Euromoney surges on takeover talk - Sharecast.com

2022-08-26 23:44:13 By : Ms. catherine dong

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The FTSE 250 was up 0.34% at 18,990.43 at 1515 BST.

Euromoney surged after it confirmed it was in talks with a consortium comprising of private equity firms Astorg Asset Management and Epiris about a possible £1.6bn cash takeover.

Responding to media speculation over the weekend, Euromoney said they were in discussions about a possible offer at £14.61 per share. This follows earlier approaches from the consortium at £11.75, £12.50, £13.10 and £13.50 per share.

Russ Mould, investment director at AJ Bell, said: "Euromoney has a lot of attractions to private equity - services which are in demand, a strong balance sheet and the opportunity to make big improvements to profit margins.

"The company has been sharpening its focus thanks to a mixture of self-help measures and strategic deals. It has been reaping the benefits of bolt-on acquisitions which have helped to strengthen its data intelligence capabilities, and its events business has also been recovering from Covid disruption.

Building materials supplier Travis Perkins fell after a report from estate agent platform Rightmove indicated that house prices were likely to start falling in the next five months.

Euromoney Institutional Investor (ERM) 1,394.00p 27.42% Carnival (CCL) 730.20p 8.21% Drax Group (DRX) 650.00p 7.97% TUI AG Reg Shs (DI) (TUI) 162.70p 6.55% ITV (ITV) 69.42p 6.15% Moonpig Group (MOON) 219.20p 4.38% Currys (CURY) 77.40p 3.82% Caledonia Investments (CLDN) 3,780.00p 3.56% Frasers Group (FRAS) 627.50p 3.55% Royal Mail (RMG) 281.50p 3.49%

XP Power Ltd. (DI) (XPP) 2,975.00p -5.85% Pennon Group (PNN) 1,009.00p -4.99% Marshalls (MSLH) 448.60p -4.88% Grafton Group Ut (CDI) (GFTU) 780.90p -4.45% Mediclinic International (MDC) 437.60p -4.33% Genuit Group (GEN) 392.50p -4.27% Tyman (TYMN) 248.00p -4.25% Baltic Classifieds Group (BCG) 127.00p -4.08% Spirent Communications (SPT) 231.80p -3.90% Travis Perkins (TPK) 980.40p -3.65%

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