Drax powers ahead on bid speculation

Mon, 29th Jun 2020 10:53

(Sharecast News) - Drax shares surged on Monday amid speculation the temporary power provider could be a takeover target.
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.

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