Speculation about a takeover offer has sent Group's share price soaring by almost 20%
Speculation that a takeover bid will be launched for Alliance & Leicester has seen shares appreciate by nearly 20% in the past 12 months. The share price of the group, which is widely owned in single company Peps, is currently at 868p, just below its 52-week high price of 890p. Chris Hegarty, Investment Manager at Edinburgh Fund Managers, said: 'The market's main interest is whether the company is going to be bought by a rival. The value of the stock in the event of a takeover is thought to be £10, while the shares are worth £7 if the company remains independent. Currently, the price...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes