Interactive Investor approaches Share for takeover talks
Investment platform Interactive Investor has approached broking firm Share to discuss a potential takeover offer.
Shares’ stock price soared as much as 22 per cent to 37.7p this morning following the announcement, reaching its highest value in almost four years.
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Interactive Investor has made a “preliminary” approach for the company, which owns The Share Centre, meaning a takeover attempt is not definite.
The company must announce a firm intention to make a bid for Share, which is listed on AIM, by 31 May or announce that it does not intend to make an offer.
In a statement to the London Stock Exchange Share said: “The board of the directors of the company notes the recent rise in the company’s share price.
“The board can confirm that it has received a preliminary approach which may or may not lead to an offer being made for the company.
“The preliminary approach for the company is from Interactive Investor.
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“There can be no certainty that an offer will be made for the company, nor as to the terms on which an offer may be made.”
A spokesperson for Interactive Investor said: "We note the announcement from Share PLC and have no further comment to add at this time.