Mouchel Rises Most in a Year on Second Approach in 12 Months
Mouchel Group Plc, a U.K. road and infrastructure-maintenance company, rose the most in a year in London trading after saying it received approaches which could lead to an offer.
Mouchel rose as much as 17.5 pence, or 31 percent, to 74 pence and traded at 71 pence as of 8:09 a.m. local time, the most since Dec. 14, valuing the Woking, England-based company at 79.8 million pounds ($126 million).
Mouchel didn’t name its latest suitors. The company was subject to an all-share bid from government services company VT Group Plc in February equal to about 294 pence. VT was fending off a bid from Babcock International Group Plc at the time.
Mouchel said today it remained “cautious” about short- term trends in some markets. Expectations for the full-year remain “unchanged,” it said in a statement today.
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