Shares in Menvier-Swan surge on bid approach
Wednesday 12 November 1997
Schroders, which is advising Menvier on the bid approach, made the announcement after the company's shares climbed as high as 265p. The stock closed 49p up at 254p, some way off January's high of 338p.
Menvier refused to comment on the suitor's identity and how advanced the talks were.
The company has been looking vulnerable after issuing a profits warning in September. That warning sent its shares spiralling 22 per cent to a year low of 217p. The company said trading conditions had been difficult and its largest customer had cut back on stock levels. Menvier had also been affected by the strength of the pound, industry consolidation and restructuring costs.
The difficult market conditions forced Menvier to cut more than 100 jobs, almost 10 per cent of the workforce.
- Cathy Newman
- 2 Moscow voted the world's unfriendliest city
- 3 The excuses your boss is most likely to believe when you call in sick
- 4 I'm pansexual – here are the five biggest misconceptions about my sexuality
- 5 More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
The one chart that shows how George Osborne is almost certainly going to be our next Prime Minister
The excuses your boss is most likely to believe when you call in sick
Bono's group has made more money from Facebook investment than from all his music
Three-year-old ultra-Orthodox Jewish children told 'the non-Jews' are 'evil' in worksheet produced by London school
Wikipedia rocked by 'rogue editors' blackmail scam targeting small businesses and celebrities
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don’t change Europe’s attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
iJobs Money & Business
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...
£20000 - £25000 per annum + competitive: SThree: SThree are a global FTSE 250 ...
Voluntary and unpaid, reasonable expenses reimbursable: Reach Volunteering: St...