CIP Merchant Capital Ltd - AIM-listed closed-ended investment company incorporated in Guernsey - Corporation Financiere Europeenne SA confirms it has previously made an approach in relation to a possible all-cash offer at 50 pence per CIP share. CFE made an initial approach to the board on September 29, and a second approach on December 2, which were both rejected.
CFE, a trading house focused around special situation opportunities, currently has a 6.9% shareholding in CIP. Further, CFE believes it is no longer in the best interest of CMC or its shareholders to remain as a publicly traded company on AIM.
Current stock price: 53.63p
Year-to-date change: up 9.4%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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