Talgo tracks best day ever after takeover offer from Hungarian group

Minor Hotels Europe & Americas SA

16/11/2023 09:58

(Adds analyst quote)
    ** Talgo  TLGO.MC  shares rise 16% after the Spanish train
maker said an unidentified Hungarian business group made a
preliminary offer to buy all its shares 
    ** The group would offer to pay 5 euros ($5.42) per share,
Talgo said in a filing to the stock market regulator, which
represents a 28% premium over its closing share price on
Wednesday
    ** "It is not a formal takeover bid yet, but it has always
been rumoured that there was interest in selling the company,"
said BolsaZone analyst José Javier González Murga
    ** "Recently, there has been a lot of interest in Spanish
companies that are getting cheap, such as Applus  APPS.MC ,
Prosegur  PSG.MC , NHH  NHH.MC , due to low liquidity and as
money is going into fixed income," he added
    ** Spanish regulator CNMV suspended trading in Talgo shares
for one hour in early morning trade
    ** Shares on track for their best day ever
    ** Including Thursday's rise, the stock has gained 42% YTD
    

 (Reporting by Matteo Allievi)
 ((Matteo.allievi@thomsonreuters.com))