Equiniti Group subject of takeover offer, shares jump

© Reuters

By Samuel Indyk

Investing.com – Shares in Equiniti Group were trading higher by over 18% on Monday after the company confirmed they are subject to a takeover approach from Siris Capital Group.

The non-binding bid from Siris Capital Group is worth 170 pence per share. Equiniti closed Friday’s session at 137.60 pence per share.

Equiniti confirmed the highly-conditional offer had been received, saying it is subject to a number of pre-conditions including completion of due diligence and arrangement of debt financing.

The board of Equiniti said they will evaluate the proposal carefully in all respects, together with its financial and legal advisers.

Both parties said further announcements will be made in due course and Siris have confirmed that there can be certainty an offer will be made.

At 13:50BST, Equiniti Group (LON:) shares were trading higher by 18.8% at 163.47 pence per share.

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