UK's Finsbury hits near 5-year high on $177 mln takeover
20/09/2023 08:12
** Shares of Finsbury Food Group FIF.L surge about 22.5%
to 109p, their highest since December 2018
** UK-based speciality maker of cakes, breads and other
bakery items agrees to be acquired by Frisbee Bidco Ltd, a
company owned by funds managed by asset management firm DBAY,
for about 143.4 mln pounds ($177.2 mln)
** Under terms of deal, each Finsbury shareholder will get
110p in cash per share, representing a premium of about 23.6% to
Tuesday's closing price of 89p
** As of last close, stock down 3.2% YTD
($1 = 0.8094 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))