Takeover approach: Canadian pension fund BCI is set to buy FTSE 250 investment firm BBGI Global Infrastructure for £1billion in the latest blow to London's stock market.
BBGI chief executive Duncan Ball said that the board was 'confident that BBGI can continue to deliver sustainable cash flows to shareholders' but said that the offer 'provides shareholders with the opportunity to realise the value of their holdings in cash, at an attractive value'.
A Canadian pension fund is set to buy a FTSE 250 investment firm for £1billion in the latest blow to London's stock market.
Shares in BBGI, an infrastructure fund that owns roads, schools and hospitals in the UK, Europe, North America and Australia, jumped 17.2 per cent, or 21p, to 142.8p – their highest since June 2023.
The fund, whose UK assets include the M80 motorway and North West Fire and Rescue, is the latest London-listed firm to be targeted by an overseas buyer amid what analysts have called a 'takeover frenzy'.
