Hunting rumoured to be in line for GBP 1.3bn takeover offer from GE Energy Financial Services
Hunting, the London-listed energy services provider to the gas and oil sector, is rumoured to be in the sights of GE Energy Financial Services, The Daily Mail reported.
The market report said the energy-investing unit of GE Capital is believed to be preparing a 900p (USD 13.65)-per-share or GBP 1.3bn cash offer for Hunting.
The report said several potential buyers have approached Hunting in the past but have been swiftly rejected by the company’s board. However, significant shareholders the Hunting family may now be prepared to entertain an offer as ageing chairman of the business Richard Hunting has no obvious successor, the report said.
Shares in Hunting ended trading yesterday, 3 February, up 60.3p at 478.7p, the item noted. The company has a GBP 707m market capitalisation.
Daily Mail