Identity theft and credit card insurer CPP's recent rise continued on Thursday, following confirmation from Affinion Group that early stage discussions are taking place with a view to its taking over the company.
CPP revealed yesterday that it had received an initial, preliminary approach from US peer Affinion Group. Its shares have risen more than four-fold since October 25th, as news of the talks must have leaked out.
By 10.30 today, the shares were up a further 8.5p at 38.1p.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Affinion issued a brief statement: "Affinion Group, Inc. notes the announcement issued by CPPGroup Plc (CPP) on October 31st 2012, and confirms that its considerations are at a very preliminary stage and there is no certainty that any offer either will be made, or as to the terms on which any offer may be made.
"Affinion also confirms that there are no agreements between Affinion and CPP under which the company is required to acquire CPP."
CM
-
Nationwide: UK house prices creep up by 0.2% - are we heading for a rebound?Nationwide’s latest house price index shows property prices inched up by 0.2% as demand warms up - will this trend go into 2024?
-
December 2023 NS&I Premium Bond winners revealed - have you won the jackpot?
Two Premium Bond holders are now millionaires as NS&I reveals December winners. Find out if you’re one of them
