John Laing shares rally after receiving takeover interest

Shares in infrastructure investment company John Laing Group (LON:JLG) soared higher on Thursday afternoon after the company confirmed it is in discussions with KKR about a possible offer by KKR for the firm.

In a statement to the London Stock Exchange in response to share price movement, the FTSE 250 company said discussions centre around a possible offer by KKR for the entire issued and to be issued ordinary share capital of John Laing.

“There can be no certainty that any firm offer for the Company will be made nor as to the terms on which any firm offer might be made,” John Laing said in a statement.

The company also advised that shareholders take no action at this time.

Due to the London takeover code, KKR is now required to either make a firm intention to make an offer or announce that is does not intent to make an offer by no later than 3rd June 2021.

At 14:20BST, shares in John Laing were trading higher by 14.6% at 363.58 pence per share.