Lombard Risk Gets Takeover Approach From Wolters Kluwer Unit
“While at this point in time the board thinks it unlikely that an acceptable offer will be forthcoming, discussions are continuing and a further announcement will be made as appropriate,” London-based Lombard said in a statement today.
Wolters Kluwer’s FRS Global division made the approach, Lombard said. Lauren Dearmer, a spokeswoman for the bidder, didn’t return a telephone call seeking comment.
Lombard said in May revenue in the 12 months through March jumped 32 percent to 11.8 million pounds from the year-earlier period. The company swung into a pretax profit of 600,000 pounds from a 1.3 million-pound loss.
The shares climbed 17 percent to 8.63 pence as of 3:07 p.m. in London trading, their highest since June 2007.
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