(Alliance News) - Shares in Aggreko PLC shot up on Friday after it confirmed it is in discussions with a consortium made up of UK-based private equity firm TDR Capital LLP plus infrastructure investment manager I Squared Capital US LLC and its affiliates over an 880 pence per share takeover offer.
The proposal represents a 39% premium to the power generator rental firm's Thursday closing price of 635.00p each. Shares in FTSE 250-listed Aggreko were trading 37% higher at 868.00 pence each on Friday afternoon in London.
"Discussions between Aggreko and the consortium are ongoing. There can be no certainty either that an offer will be made or as to the terms on which any offer might be made," Aggreko noted.
By Ife Taiwo; ifetaiwo@alliancenews.com
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