Infast Reveals Bid Approach
April 13
00:00
2005
Infast Reveals Bid Approach
Jason Sandefur
Shares of British fastener distributor Infast Group rose to an 11-month high after the firm revealed it had received a bid approach. Infast shares were up 15.4% to value the company at 30 million pounds (US$57 million).
Infast stock has been the subject of buying by investment firm North Atlantic Value and venture capitalist John Moulton.
Infast said in a statement it was “in discussions that may or may not lead to an offer for the entire issued share capital of the company. There is no certainty that an offer will be made following these discussions.” Web: infast.com �2005 FastenerNews.com
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