UK's N Brown hits 20-month high on $248 mln buyout deal
17/10/2024 08:46
** British online retailer N Brown Group BWNG.L jumps as
much as 44.3% to 38.98p, the highest since February 2023
** Stock among top pct gainers across all London shares
** Co agrees to be bought by its fourth-biggest shareholder
Joshua Alliance for about 191 mln pounds ($248 mln)
** Alliance, which owns 6.6% of N Brown's issued share
capital, to buy co for 40p, a 48.1% premium to BWNG's last close
** Stock up ~59% so far this year, as of last close
($1 = 0.7701 pounds)
(Reporting by Prerna Bedi in Bengaluru)
((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))