Takeover rumours boost Jongleurs
Regent Inn share price up 50% in hours
Shares in Jongleurs owners Regent Inns have soared by almost 50 per cent this morning, amid rumours of an impending takeover.At 9.45am, the share price stood at 24p – still about a third of the price it was for most of 2007, but a sudden reversal of the continual downward slump the company has suffered since issuing a profits warning last month. Yesterday the price was 15p
Regent Inns today said it ‘continues to experience more challenging market conditions against a background of a difficult consumer market’.
But it also confirmed it ‘has received a number of preliminary approaches in respect of potential offers for the company and is in very early stage discussions with some of these potential offerors.”
The Regent Inn board emphasised these discussions 'may not lead to an offer or offers being made for the entire issued share capital of the company'.
Click here to see a chart of the share price.
Published: 15 Jan 2008
