FTSE 250 movers: Perform Group jumps on takeover bid news
Shares in Perform Group surged on Monday after the company, which commercialises multimedia sports content across digital platforms, confirmed it had received a takeover bid from investment group Access Industries.
Access Industries, which already owns 42.5% of Perform, made an offer of 260p per share for the rest of the company, valuing the entire business at £701.6m. Perform's board reiterated its confidence in its prospects as an independent company and urged shareholders to "take no action at this time".
Shares in newly merged Carphone Dixons were performing strongly after Vodafone reportedly said it would expand its current partnership with the group.
Meanwhile, Deutsche Bank helped to keep scandal-hit oil explorer Afren in the red, after it cut its target price from 185p to 175p.
Technological company Exova continued to fall after it on Friday revealed that its revenue had declined in the first half due to headwinds in aerospace and transportation sectors.
FTSE 250 - Risers
Perform Group (PER) 257.80p +26.50%
Dixons Carphone (DC.) 363.30p +5.43%
African Barrick Gold (ABG) 244.90p +4.84%
Redrow (RDW) 283.40p +3.39%
Alent (ALNT) 362.00p +3.13%
De La Rue (DLAR) 730.50p +2.74%
Euromoney Institutional Investor (ERM) 1,111.00p +2.68%
IP Group (IPO) 219.80p +2.66%
Debenhams (DEB) 68.10p +2.48%
Cairn Energy (CNE) 184.00p +2.45%
FTSE 250 - Fallers
Afren (AFR) 92.40p -5.23%
Fidessa Group (FDSA) 2,230.00p -2.54%
Petra Diamonds Ltd.(DI) (PDL) 174.10p -2.52%
Exova Group (EXO) 188.50p -2.33%
Supergroup (SGP) 1,068.00p -2.11%
PayPoint (PAY) 1,051.00p -1.96%
Telecom Plus (TEP) 1,430.00p -1.85%
Ocado Group (OCDO) 322.60p -1.74%
Infinis Energy (INFI) 212.10p -1.71%
Circassia Pharmaceuticals (CIR) 312.00p -1.52%
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