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Hastings confirms takeover approach from consortium led by Sampo, RMI
29th Jul 2020 16:02
(Sharecast News) - Hastings confirmed on Wednesday that it has been approached by a consortium led by Finnish insurer Sampo and its biggest shareholder, Rand Merchant Investment Holdings, about a possible cash offer.
In a brief statement responding to press speculation, the company said it has established an independent committee to consider the deal and is in talks with the consortium.
"There can be no certainty that any firm offer will be made for the company, nor as to the terms on which any offer might be made," it said, adding that a further announcement will be made when appropriate.
At 1610 BST, the shares were up 15.1% at 195.70p.
In a brief statement responding to press speculation, the company said it has established an independent committee to consider the deal and is in talks with the consortium.
"There can be no certainty that any firm offer will be made for the company, nor as to the terms on which any offer might be made," it said, adding that a further announcement will be made when appropriate.
At 1610 BST, the shares were up 15.1% at 195.70p.