Banking and asset management giant Investec has confirmed it has made an offer for Williams de Broe owner Evolution Group.
Investec said in a statement it had made a preliminary approach for Evolution, after the target company revealed it had received an offer from a mystery bidder. The group said in a statement: "Investec confirms, in line with its existing strategy, it has made a preliminary approach regarding a potential share offer for the entire issued and to be issued share capital of Evolution." Evolution shares were trading up 2.25p or 2.8%, to 82p, following the announcement.
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