Network agrees takeover bid

Feb 03, 2012

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Diversified recruitment and outsourcing business Network Group has come to an agreement with NGH Topco on a recommended cash offer of £19.6m for the entire share capital of Network.

Network shareholders will receive 26p per share, or will be entitled to receive 0.26 ordinary shares per Network share in NGH Topco.

The offer price represents a premium of around 40.5% to the closing price of 18.5p on Thursday February 2nd.

Network Group's share price rose 37.84% to 25.5p by 11:24.

NR

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