Drax powers ahead on bid speculation
Drax shares surged on Monday amid speculation the temporary power provider could be a takeover target.
Drax Group
513.50p
16:35 24/04/24
1.08%
5.50p
Electricity
9,979.03
17:09 24/04/24
-0.54%
-54.68
FTSE 250
19,719.37
17:09 24/04/24
n/a
n/a
FTSE 350
4,419.71
17:09 24/04/24
n/a
n/a
FTSE All-Share
4,374.06
16:44 24/04/24
n/a
n/a
The Mail on Sunday suggested Drax could be in early stage talks to be bought by an unnamed energy company.
It noted chatter Drax could be bought for approximately 340p a share, valuing the group at £1.35bn.
At 1105 BST, the shares were up 8.6% at 242.40p.