Charter Says in Talks With Bidder; Rises Most Since June
Charter International Plc (CHTR), a welding and automation-equipment maker, rose the most in almost eight weeks in London trading, after saying it is in talks with a potential bidder other than Melrose Plc. (MRO)
Charter, which has turned down two indicative cash-and- share offers from Melrose this year, rose 20 percent to close at 747 pence at 4:30 p.m. in London, the biggest gain since June 29.
The Telegraph today reported that Charter had received a 870 pence per share indicative offer from an unnamed bidder.
“The company confirms that it is in discussions with a potential offer other than Melrose Plc regarding a possible takeover for the company,” Dublin-registered Charter said in a Regulatory News Service statement. “These discussions are at an early stage and there can be no assurance that they will lead to an offer for the company.”
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