LONDON (ShareCast) - Shares in ClinPhone rallied after US firm Parexel announced that its 135p cash and share offer for the clinical trial technology provider has been accepted.
The offer, which represents a 31% premium to ClinPhone’s closing price of 103p on Thursday, values the group at about £91m.
Meanwhile, Quintiles Transnational said it may make an all-cash counter offer for ClinPhone, which would be at a premium to the price per share offered by Parexel.
Energy and environmental consultant AEA slipped as it launched a deep discount £40m rights issue to help pay for Project Performance Corporation, an environmental management and information technology consulting firm headquartered in Virginia, United States.
PPC is costing £33m. A 4 for 5 rights issue at 40p will raise £39.7m to pay for the deal. AEA said the acquisition provides access to a fast-growing US federal market for clean energy and climate change consultancy and access to a US private sector market in the medium term, targeting US corporations which have important markets in the EU including the UK.
Chief executive Andrew McCree said: "AEA's clear strategy has been to take its climate change and energy know-how into the United States and its large federal consultancy market. By acquiring PPC, we gain access to framework contracts and relationships with AEA's target customers and a quality management team with a proven record of growth."
FTSE TechMARK - Risers ClinPhone (CNP) 145.00p +40.78%
Renovo Group (RNVO) 39.50p +10.49%
BTG (BGC) 157.00p +4.15%
Computacenter (CCC) 151.50p +3.77%
Alizyme (AZM) 21.50p +2.38%
Sinclair Pharma (SPH) 40.50p +1.89%
Intec Telecom (ITL) 49.00p +1.55%
Psion (PON) 107.50p +1.42%
Torotrak (TRK) 19.50p +1.30%
Alphameric (ALM) 22.00p +1.15%
