Home Business Business News
Canadian pension fund eyes money website
Jul 25 2008 by Alex Turner, Liverpool Daily Post
CANADIAN pension fund Ontario Teachers’ Pension Plan yesterday confirmed that it had made a “preliminary approach” for Deeside-based Money supermarket.com.
Shares in the price comparison website rose by nearly 50% on Wednesday as the firm issued a statement rejecting an approach from an undisclosed source.
The pension fund, which manages assets of £54bn, issued a statement at the request of the UK Takeover Panel con- firming the approach but said it “has no current intention of making an offer for Money- supermarket.com”.
However it reserved the right to make or part- icipate in an offer for the firm in the next six months.
Moneysupermarket. com was founded in 1999 by Simon Nixon, who still has a 54% stake in the business. It was floated last year but its shares are now trading at half of its 170p flotation price.
Site Tools
Related Stories
Hot Deals
Copyright and Trade Mark Notice © 2009 owned by or licensed to Trinity Mirror North West & North Wales Limited. Liverpool Daily Post™ is a trade mark of Trinity Mirror North West & North Wales Limited. Please read our Terms and Conditions and Privacy Statement before using this site.
The Liverpool Daily Post, the best source for Liverpool FC, Everton FC and Liverpool news. Your Liverpool Daily Post, great local images, videos and your local stories.