(Alliance News) - Clinigen Group PLC's shares surged on Thursday after the company confirmed that it is in takeover discussions with Triton Investment Management Ltd.
Shares in the Staffordshire-based pharmaceuticals and services provider were 18% higher at 746.50 pence on Thursday afternoon in London, giving the company a market cap of GBP797.5 million.
The pharmaceutical company said it was in "advanced discussions" with the London-based investment firm and made the announcement without the consent of Triton.
The company added that there can be "no certainty" that any firm offer will be made nor on the terms on which any firm offer might be made.
Triton is required to announce its decision on an offer for the company by no later than 1700 GMT on December 30.
By Heather Rydings; heatherrydings@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
