UK's Equals Group hits over 3-month high on improved takeover offer
30/10/2024 12:56
** Financial services company Equals Group's EQLS.L shares
rise 9.8% to 123p, highest since July 10
** Co receives improved takeover offer of 135 pence/share
and additional special dividend of 2 pence/share from consortium
comprising Embedded Finance Ltd and TowerBrook Capital Partners
** In July, consortium had offered 135 pence/share for EQLS
** In March, consortium announced its first takeover bid for
EQLS, but terms were not disclosed
** In June, EQLS said it was no longer in discussions with
Madison Dearborn Partners regarding a takeover offer after
receiving indicative proposal in April
** Stock on track to log biggest intraday pct gain in
nearly a year
** Shares up ~2.2% since consortium's first offer in March
(Reporting by Megha Kumari in Bengaluru)
((Megha.kumari@thomsonreuters.com))