XP Power revealed it has turned down three offers from US rival Advanced Energy IndustriesShares in XP Power rose nearly 50 per cent after it became the latest London-listed company to be targeted by foreign bidders. In a statement to investors yesterday, the high voltage power supply firm revealed it has turned down three ‘highly conditional, opportunistic, indicative proposals’ from US rival Advanced Energy Industries. XP Power joins a growing list of London-listed firms to be targeted, amid what has been described as a takeover ‘feeding frenzy’. In a seven-month pursuit of XP Power, Advanced Energy Industries first tabled a bid of 1700p – or £339million – towards the end of October. Last night Advanced Energy Industries said its latest offer represents a ‘compelling and highly attractive opportunity’ for shareholders.

Source: Daily Mail May 22, 2024 08:59 UTC