Latest News

Intage shares soar after buyout offer

© Reuters.

(This Feb 9 story clarifies the offer was from Nippon Value Fund’s investment advisor, not the fund itself, in the headline and first, second and last paragraphs)

TOKYO (Reuters) – Intage Holdings Inc saw its share price soar when trading of its stock resumed on Thursday morning, as investors welcomed an offer from the investment advisor of Nippon Active Value Fund to buy out the market researcher for 76.7 billion yen ($664.18 million).

The British fund’s advisor on Feb. 7 said it offered to buy all Intage shares for 1,900 yen each.

That came after the advisory firm, Rising Sun Management, last month delivered a letter to Intage urging the Japanese researcher to consider a management buyout.

Intage on Thursday said it had received the offer, but that it was not considering a management buyout or de-listing.

Shares of Intage were priced as high as 1,870 yen in early trade, up 8.2% from Wednesday’s close.

The Tokyo Stock Exchange halted trading of Intage shares earlier on Thursday after the Nikkei reported the approach.

($1 = 115.4800 yen)

Intage shares soar after buyout offer

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News