UK's IQGeo soars to record high on KKR deal
14/05/2024 12:28
** Shares of IQGeo Group IQG.L rise as much as 17% to a
record high of 474p
** Private equity firm KKR KKR.N will take the British
geospatial software provider private in a 316 mln pounds ($396
mln) deal
** Geologist Bidco Ltd, wholly owned by funds advised by
KKR, will pay 480p in cash for each IQGeo share
** Offer price represents a premium of 19% to stock's last
close
** Stock up 16% as of 1123 GMT, taking YTD gains to ~55%
($1 = 0.7980 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))