David Buik Comments: Yell Group Shares Soar Most In More Than A Year On Takeover Speculation - Bloomberg
Yell Group Plc, the publisher of the U.K.’s yellow pages directories, surged the most in more than a year in London intraday trading amid speculation about a takeover bid for the company.
Yell jumped as much as 27 percent to 19.88 pence, the biggest intraday gain since April 2009. The shares traded at 19.7 pence as of 1:39 p.m.
“M&A activity continues to fill the air,” David Buik, a London-based market strategist at BGC Partners, wrote in an e- mail. “Interested parties are suggesting that Yell might be for sale at around 30 pence” a share, he said.
Yell spokesman Jon Salmon said via phone today that the company doesn’t comment on market speculation.
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