Yell Shares Soar Most in More Than a Year on Speculation of Takeover Bid
Yell Group Plc, the publisher of the U.K.’s yellow pages directories, surged the most in almost seven months in London trading amid speculation about a takeover bid for the company.
Yell jumped 13 percent to 17.79 pence, the biggest gain since Feb. 4.
“M&A activity continues to fill the air,” David Buik, a London-based market strategist at BGC Partners, wrote in an e- mail. “Interested parties are suggesting that Yell might be for sale at around 30 pence” a share, he said.
Yell spokesman Jon Salmon said via phone today that the company doesn’t comment on market speculation.