UK's Smoove gains on start of due diligence process related to PEXA offer
14/07/2023 08:39
** Shares of Smoove Plc SMV.L rise as much as 9% to 41p;
stock among top pct gainers across London shares
** The home-moving solutions firm says a formal due
diligence process has started in relation to a potential
takeover offer from Australian online property firm PEXA Group
Ltd PXA.AX
** In April, co had said it was in early-stage talks
regarding a cash offer from PEXA
** SMV now confirms discussions have advanced
constructively between parties
** Stock currently up 3.7%, taking YTD gains to more than 8%
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))