UK's Finsbury shares jump on $177 mln takeover
20/09/2023 08:07
Sept 20 (Reuters) - Shares in Finsbury Food Group
FIF.L surged about 22% in early trade on Wednesday after the
UK-based bakery group agreed to a 143.4 million pound ($177.13
million) takeover by Frisbee Bidco, a company owned by funds
managed by asset management firm DBAY.
Under the deal, shareholders of the Finsbury will get 110
pence per share in cash, representing a premium of 23.6% to the
stock's Tuesday closing price of 89 pence.
($1 = 0.8096 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Mrigank Dhaniwala)
((abyjose.koilparambil@thomsonreuters.com; +917483275231;))