Hyve surges after £306m takeover offer from Providence Equity
Exhibition business Hyve surged on Tuesday after confirming it had received a preliminary and conditional £306m takeover approach from private equity firm Providence Equity.
FTSE All-Share
4,374.06
16:44 24/04/24
n/a
n/a
FTSE Small Cap
6,434.18
17:09 24/04/24
n/a
n/a
Hyve Group
n/a
n/a
n/a
n/a
Media
11,814.38
17:09 24/04/24
-1.27%
-151.74
The latest offer of 105p a share follows an earlier offer of 101p a share, Hyve said.
"The board of Hyve is considering its position with respect to the proposal and a further announcement will be made in due course," it said in a brief statement.
Based in Rhode Island, Providence focuses on media, communications, education, and technology investments across North America and Europe.
At 1625 GMT, Hyve shares were up 16% at 100p.