(Sharecast News) - Aggreko shares surged on Friday after the temporary power provider said it was in talks with TDR Capital and I Squared Capital about a possible cash offer at 880p a share.
In a brief statement in response to recent press speculation, the company said that buyout firm TDR Capital and infrastructure investment manager I Squared had made a series of proposals to the group which have culminated in them entering into discussions.
Based on Aggreko's closing share price on Thursday, the proposal would represent a 39% premium.
"Discussions between Aggreko and the consortium are ongoing," it said, adding that there can be no certainty an offer will be made, nor as to the terms of any potential offer.
"A further announcement will be made if and when appropriate," Aggreko said.
At 1455 GMT, the shares were up 33% at 845.50p.
19 Jul 2016 08:29