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
-
How taking a two-year career break could leave a £26k hole in your pensionCareer breaks are increasingly common but it is important to take steps to protect your pension, as gaps compound over time
-
Cash in on your attic: Thousands could be sitting dormant in your storageSelling your valuables at auction could be far more lucrative than you think. We take a look at how auctions work, and some tips to help you maximise your profits
