FTSE 250 movers: Euromoney soars on private equity takeover

The FTSE 250 was up 0.94% to 19,011.66 at 1456 BST.
Shares in Euromoney Institutional Investor surged after the publisher agreed to be bought by a private equity consortium led by France’s Astorg Asset Management for ยฃ1.6bn.

The consortium, which also comprises London-based Epiris, will pay 1,461p per share in cash, which is a premium of around 33.5% to closing share price on 17 June, prior to the commencement of an offer period.

Euromoney chair Leslie Van de Walle said: “The board believes the offer represents value for shareholders and reflects the attractions of Euromoney’s business model and performance. I would like to recognise the exceptional contribution of our people.

Luxury sports car maker Aston Martin Lagonda surged after last weeks news that it had raised ยฃ653m in new equity.

Energy stocks Tullow and Energean both gushed as oil prices rose. Brent crude futures were last up 2.3% on ICE at $103.49 per barrel, and West Texas Intermediate 1.98% firmer on NYMEX at $99.52.

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