Britt Allcroft in takeover talks

By THIS IS MONEY
Updated:

 

Shares in Britt Allcroft Company, the media group behind children's character Thomas the Tank Engine, leapt today after a newspaper predicted the company could eventually be sold for up to £13 per share.

By 9.30, the stock was up 150p or 19.2% to 930p compared with Friday's close of 780 pence. Britt Allcroft on Friday confirmed it had received a takeover approach but gave no details on the company behind the move or the possible offer price. Citing unnamed sources close to the company, the Sunday Times said Britt had received an offer of about 800p from Hit Entertainment but could eventually be sold for a much higher price.

The report cited cable TV programme maker Flextech as waiting in the wings if HIT did not come up with a suitable offer for the group, which also boasts characters Sooty and Captain Pugwash.©Reuters

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