Source BioScience gets potential 18p a share offer
Updated : 12:12
Shares in Source BioScience are up more than 15% after it received a potential but firm 18p a share cash offer from Continental Investment Partners SA and Harwood Capital LLC.
The potential offer was, subject to due diligence, expected to include an unlisted securities alternative, Source BioScience said.
An 18p a share tilt would represent a premium of about 21% to the closing mid-market price of Source BioScience's shares on Thursday. Today they are up 15.13% to 17.12p.
Certain clients advised by Continental hold 25.46m shares in Source BioScience, representing about 7.29% of that company's issued capital. Funds managed or advised by Harwood hold 82.5m shares, or about 23.62%.