Restaurant Group share price falls as chairman’s purchase of shares scotches takeover hopes
Restaurant Group's [LON:RTN] share price dropped yesterday, 30 August, after the UK-based leisure company’s chairman purchased stock in the business, dampening takeover speculation, the Financial Times reported.
Debbie Hewitt was revealed in a stock exchange announcement to have bought shares, scotching persistent chatter Restaurant Group may have received a takeover approach, the market report said.
Restaurant Group has an GBP 849m (USD 1.1bn) market cap; its shares lost 6.2% yesterday, taking the price per share to 396p, the report noted.