UK's Pinewood soars on Ridgeview's $727 million takeover offer
27/07/2026 08:34
BUZZ-UK's Pinewood soars on Ridgeview's $727 million takeover offer ** Automotive technology provider Pinewood Technologies PINE.L shares rise as much as 35% to 425 pence
** Stock on track for record biggest one-day pct gain since May 2009, if gains hold
** On Friday, U.S. technology-focused private equity firm Ridgeview offered to buy PINE for 448 pence per share, valuing the British company at £545 million ($727.30 million)
** Co said it would be inclined to recommend a bid to shareholders if Ridgeview announces a firm intention to make an offer
** As of last close, PINE down ~12% YTD
($1 = 0.7493 pounds)
(Reporting by Megha Kumari in Bengaluru)