AssetCo takeover talks with unnamed suitor
11 April 2012
Shares in AssetCo rose nearly 17%, or 8.5p, to 59.5p today, after the group which runs London's fire engines said that it was in negotiations about a potential takeover.
However, AssetCo dismissed reports that fund manager J O Hambro Capital - its biggest shareholder - was in the running to acquire the firm.
The group, which provided strike cover during the London Fire Brigade's walkouts last year, said: "The board notes the recent press speculation and announces that it is in discussions with a third party that may or may not lead to an offer being made for the company. The third party is not J O Hambro."
AssetCo has hired bankers at Evolution Securities for advice on a possible deal.
