Pinewood shares sink over 30% after Apax abandons £575m takeover
Shares in Pinewood Technologies Group have fallen sharply after private equity firm Apax Partners confirmed it would not proceed with a £575m takeover of the business.
Prior to the sell-off, Pinewood shares had closed at 436.5p. During Monday’s session, the stock fell 32.6%, hitting a low of 288.9p before last trading at around 294p.
Trading volumes surged to more than 4.3 million shares, up 147% on average levels, as investors reacted to the collapse of the deal.
Apax, a leading global private equity advisory firm founded... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
