IPT in talks over takeover approach

by Joe Lepper Brand Republic 22-Aug-07, 13:40

LONDON - Shares in data collection and direct marketing company Interactive Prospect Targeting have risen 23% to 137.5p after the company said it was in talks that may lead to it receiving a takeover offer.

In a statement, the AIM-listed company said it is "in preliminary discussions with certain parties which may or may not lead to an offer being made for the company".

It is being advised by Canaccord Adams and Petsky Premier and a further announcement following the talks will take place "in due course".

Chief executive Lionel Thain's holding in IPT is 13.73%, and other investors include Goldman Sachs, which owns 6.02%.

Ahead of the announcement, Thain shifted £199,004 worth of shares into his personal pension plan but his beneficial interest remain unchanged at 6,155,210 shares.