Timeweave, which owns a 50 per cent stake in racecourse TV Channel TurfTV, has received a takeover offer valuing the firm at 50m pounds.
The offer from Mayfair Capital, for 22p per share, was 14% above the share price at the close on Wednesday, the shares have now caught up and are trading at 22.25p.
In a statement today Timeweave says it is "considering its response".
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
Despite Thursday's sharp rise, the stock has still fallen 14.4% in the last 12 months.
BS
-
Barclays begins paying up to £100 compensation to customers after banking outageBarclays will pay up to £7.5 million in compensation to customers after its banking services were disrupted by an IT outage
-
Review: Shangri-La Paris – an ode to the world’s best foodNatasha Langan enjoys fine French and Chinese cuisine at the Shangri-La Paris
