IP Group has £500m offer for rival rejected
IP Group has had a £500m bid for rival Touchstone Innovations rejected.
However the intellectual property commercialisation group says it has support from Touchstone shareholders representing more than half of its share capital in the form of irrevocable undertakings and letters of intent.
IP Group said it "looks forward to further engagement" with Touchstone regarding the bid, which values Touchstone at 307p per share. The offer is for 2.1490 IP Group shares for each Touchstone share, and shares in IP Group closed last night a... 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...
