Shares in the owner of Upper Crust spiked higher as a major shareholder seeks to drum up interest in a takeover.
SSP Group rose 7 per cent, or 10.9p, to 167p – giving it a value of £1.25billion – after reports suggested activist hedge fund Irenic Capital Management is pushing for a take-private deal.
The New York hedge fund is encouraging private equity groups to bid for the London-listed company, according to the Financial Times.
It is arguing that SSP could be valued at a 50Â per cent premium to its market value in a deal.
‘We welcome the feedback and views of all our investors.Â
‘We are entirely focused on delivering progress against our clear strategic priorities to deliver sustainable growth and returns for all of SSP’s stakeholders,’ SSP said.
Hot cakes: SSP Group, which owns bakery chain Upper Crust, saw shares soar on reports activist hedge fund Irenic Capital Management is pushing for a take-private deal
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
InvestEngine
InvestEngine
Account and trading fee-free ETF investing
Trading 212
Trading 212
Free share dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investing account for you
#Activist #investor #raises #appetite #takeover #Upper #Crust #owner #SSP #Group
