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Bid talks surround Kingfisher

Bid talk surrounded Kingfisher on Tuesday afternoon, as the FTSE 100 finished up after a late surge.

US retailers Home Depot and Lowe's were cited as possible bidders for the B&Q owner, with a price of up to £3.50 a share. That would be a significant premium to the current price, which rose 2.3% to finish at 237p, and would value the group at more than £8bn.

The FTSE 100 ended 7 points up at 5,357, having nursed losses all day due to concerns that German economic growth had come in lower than expected. Sentiment turned more positive amid better-than-expected US industrial growth and Fitch affirming the US' triple A credit rating.

Source : Guardian.co.uk
www.guardian.co.uk/business/marketforceslive/2011/aug/16/kingfisher-bid-talk-as-ftse-rises

16 August 2011
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Martin Elliott. Chief Executive - Home Hardware.
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