UK's Ten Entertainment at record high after its $362-mln buyout
06/12/2023 08:28
** Shares of entertainment centers operator Ten
Entertainment TEG.L up 32% at 408p, its record high
** Top pct gainer across London stocks
** Co announces acquisition by Neon Buyer Limited, owned by
U.S.-based private equity firm Trive Capital Partners for 287
mln pounds ($361.71 million)
** Under deal, TEG shareholders will receive 412.5p per
share at a premium of 33% when compared to last close price of
310p
** Stock set for its best day ever
** "Ten Entertainment’s shares were woefully undervalued in
our view prior to this offer" - Peel Hunt
** Shares up ~60% YTD, as of last close
($1 = 0.7935 pounds)
(Reporting by Anchal Rana in Bengaluru)
((Anchal.Rana@thomsonreuters.com; +91 9915609050;))