Schroders Reduces NEX Group Interest Below 5% From Almost 10% (ALLISS)

LONDON (Alliance News) - NEX Group PLC on Thursday said Schroders PLC has cut its stake in the ...

Alliance News 17 May, 2018 | 4:38PM
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LONDON (Alliance News) - NEX Group PLC on Thursday said Schroders PLC has cut its stake in the company below 5% having previously held just under 10%.

Schroders lowered its holding in a transaction on Wednesday.

NEX in late March confirmed it had received a non-binding takeover proposal from CME Group Inc, valuing NEX at a price of 1,000 pence per share.

Shares in NEX closed up 10% at 976.43p on the day, giving it a market capitalisation of GBP3.71 billion. The proposal from CME would value NEX at GBP3.80 billion.

Shares were flat Thursday at 999.50 pence each.

Discussions were at an advanced stage, NEX said, and it has given no updates since.

By George Collard; georgecollard@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Schroders PLC 3,478.00 GBX 1.05 -
NEX Group PLC 1,003.00 GBX 0.30 -
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