24th Feb 2025 16:09
(Alliance News) - Shares in Chemring Group PLC rose on Monday after Sky News reported bid interest from a private equity firm.
According to Sky sources, Bain Capital LP, the Boston, Massachusetts-based private investment firm has made an approach to buy Romsey, England-based Chemring.
Sky said it has learnt that Bain Capital has lodged at least one proposal to acquire Chemring in recent weeks with an initial offer tabled at 390 pence per share.
On Monday, shares in Chemring, the defence products manufacturer, were 6.2% higher at 380.16p each in London for a market value of GBP1.04 billion. They had earlier traded as high as 416.46p.
Sky said Bain Capital is preparing a second offer, although it is unclear whether it had been submitted to the company's board.
By Jeremy Cutler, Alliance News reporter
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