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FTSE 250 movers: Euromoney soars on private equity takeover
(Sharecast News) - The FTSE 250 was up 0.94% to 19,011.66 at 1456 BST. Shares in Euromoney Institutional Investor surged after the publisher agreed to be bought by a private equity consortium led by France's Astorg Asset Management for £1.6bn.
The consortium, which also comprises London-based Epiris, will pay 1,461p per share in cash, which is a premium of around 33.5% to closing share price on 17 June, prior to the commencement of an offer period.
Euromoney chair Leslie Van de Walle said: "The board believes the offer represents value for shareholders and reflects the attractions of Euromoney's business model and performance. I would like to recognise the exceptional contribution of our people.
Luxury sports car maker Aston Martin Lagonda surged after last weeks news that it had raised £653m in new equity.
Energy stocks Tullow and Energean both gushed as oil prices rose. Brent crude futures were last up 2.3% on ICE at $103.49 per barrel, and West Texas Intermediate 1.98% firmer on NYMEX at $99.52.
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