Iona May Be Targeted In Takeover Bid
A strong surge in the share price of software group Iona Technologies has prompted speculation that the company is about to be the subject of a takeover approach.
Shares in Iona have risen by 50 per cent in the last seven trading days. During the same period, the Iseq index of Irish shares was virtually unchanged.
Sources in London said there was strong speculation that an interested party was running the rule over the company, and that it may even have initiated informal preliminary contact with Iona.
Last week, Goldman Sachs reduced its stake in the company by 4.2 per cent to 7.5 per cent. It is not clear who bought that stake. read more
Shares in Iona have risen by 50 per cent in the last seven trading days. During the same period, the Iseq index of Irish shares was virtually unchanged.
Sources in London said there was strong speculation that an interested party was running the rule over the company, and that it may even have initiated informal preliminary contact with Iona.
Last week, Goldman Sachs reduced its stake in the company by 4.2 per cent to 7.5 per cent. It is not clear who bought that stake. read more
posted by Kip Cissy at 3:25 PM
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