UK's Harmony Energy Income Trust jumps on possible Foresight cash offer
17/03/2025 08:31
** Shares of Harmony Energy Income Trust Plc HEIT.L surge as much as 24.2% to 81p, their highest since December 2023 ** The firm, which invests in battery energy storage systems in the UK, says it has reached an agreement for a possible acquisition by investment manager Foresight Group, valuing the London-listed group at about 190.8 million pounds ($246.91 million) ** The 84p/share all-cash bid represents a premium of 29% to HEIT's closing price on Friday ** HEIT says its board has indicated to Foresight that it would be "minded to recommend" the proposal to its shareholders if the suitor comes up with a firm offer ** Shares up about 22% YTD, including the session's gains ($1 = 0.7727 pounds) (Reporting by Aby Jose Koilparambil in Bengaluru) ((abyjose.koilparambil@thomsonreuters.com))