Nucleus Financial surges as it confirms takeover proposals
By Michele Maatouk
Date: Wednesday 02 Dec 2020
(Sharecast News) - Nucleus Financial shares surged on Wednesday after it confirmed it has received separate proposals from Integrafin Holdings and Epiris regarding possible cash offers for the company.
The Edinburgh-based fintech said it is also in preliminary talks with Aquiline Capital Partners and Allfunds regarding potential offers.
"Discussions between Nucleus and the respective parties are ongoing," it said. "Nucleus understands that Sanlam UK Limited, which owns approximately 52% Nucleus's issued share capital, is supportive of the Nucleus board engaging in potential offer discussions and the company intends to work constructively with Sanlam UK Limited to ensure that the interests of all shareholders are properly considered."
Nucleus said there can be no certainty that any offer will be made, nor as to the terms on which any offer might be made.
"A further announcement will be made in due course, as and when appropriate," it added.
At 120 GMT, the shares were up 30% at 172p.
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