Johnson Matthey stormed to the top of the FTSE 100 leaderboard amid takeover speculation after an industrials investor doubled its stake. It first bought into Johnson Matthey in April last year. Takeover speculation: Johnson Matthey soared 9.9 per cent, or 160.5p, to 1790.5pThe firm bought WR Grace, a major process catalyst producer, for £5.6billion in July 2021. Midgley added that Johnson Matthey could not be ruled out as a takeover target given the 'current share price fundamentally undervalues the sum-of-the-parts'. But the AIM-listed group yesterday said if the offer was formally tabled then it would not recommend it to shareholders.

Source: Daily Mail September 02, 2023 06:02 UTC