Restaurant Group soars 38% after takeover deal

Restaurant

12/10/2023 08:07

Oct 12 (Reuters) - Restaurant Group  RTN.L  shares
soared 38% in opening deals on Thursday after a vehicle owned by
private equity group Apollo Global APO.N  agreed to buy the
owner of the Wagamama chain for 506 million pounds ($623.24
million) in cash.
    Shares topped the 65 pence offer price and by 0712 GMT, and
exchanged hands at 66.4 pence. One trader said this normally
indicated expectations of a higher bid. 
    The company's directors have unanimously recommended that
shareholders vote in favour of the deal.
    ($1 = 0.8119 pounds)

 (Reporting by Danilo Masoni; Editing by Amanda Cooper)
 ((Danilo.Masoni@TR.com))