Ransomes shares surge on bid approach

Thursday 21 August 1997 23:02 BST

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Ransomes shares surge on bid approach

Ransomes, the lawn mowers and industrial vehicles maker, has received a bid approach which could lead to an offer being made at "a significant premium to the current ordinary share price". Ransomes shares surged 22p to 51p on the news, valuing the group at pounds 70.5m. The group, which in March stunned investors with a profits warning, revealed news of the approach after a steep recent increase in its share price. Talks are at an early stage.

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