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Mon October 26 2020

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Connaught quashes takeover talk

12 Mar 10 Connaught has quashed talk about a takeover approach, following speculation that private equity firm 3i was about to make a bid for the support services outfit.

Connaught has quashed talk about a takeover approach, following speculation that private equity firm 3i was about to make a bid for the support services outfit.

In a statement, Connaught said: "The board wishes to confirm that the company has received no offer approaches, formal or otherwise."

The speculation had lifted Connaught's shares on Wednesday and Thursday, but they closed yesterday just 2% higher at 308.5p.

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