The Restaurant Group shares spike on large trade; Apollo said to be interested
The Restaurant Group’s [LON:RTN] share price spiked late in trading on the London Stock Exchange yesterday, 25 May, the Financial Times reported. The newspaper’s market report section said the gain was partially due to an atypically large trade shortly before the market closed yesterday.
The item noted previous speculation that private equity groups including Apollo Global Management may be interested in acquiring The Restaurant Group. Apollo owns rival UK restaurant operator Casual Dining Group, the report noted.
The Restaurant Group’s share price closed 17.4p up at 370.5p in London yesterday, valuing the company at GBP 744m (EUR 979m).
Financial Times