26% up in three weeks?!?

lse:fgp

#1

Something surely is up here?
Need to be a RNS I think


#2

For immediate release

11 April 2018

FirstGroup plc
Statement re possible offer

The Board of FirstGroup plc (?FirstGroup? or the ?Company?) notes the recent movement in FirstGroup share price and confirms that it has received a preliminary and highly conditional indicative proposal from Apollo Management IX L.P. (?Apollo?) relating to a possible cash offer for the entire issued and to be issued ordinary share capital of FirstGroup (the ?Proposal?). The Board of FirstGroup has considered the Proposal in detail and believes that it fundamentally undervalues the Company and is opportunistic in nature. Accordingly, the Board of FirstGroup has unanimously rejected the Proposal.

There can be no certainty that any firm offer will be made nor as to the terms on which any firm offer might be made. A further announcement will be made in due course if and when appropriate.

In accordance with Rule 2.6(a) of the City Code on Takeovers and Mergers (the “Code”), Apollo must, by not later than 5.00 p.m. on 9 May 2018, either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel in accordance with Rule 2.6© of the Code.

This announcement has been made by FirstGroup without the agreement or approval of Apollo.

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available on FirstGroup?s website at www.firstgroupplc.com by no later than 12 noon (London time) on 12 April 2018. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

The person responsible for arranging the release of this announcement on behalf of FirstGroup is Michael Hampson, Group General Counsel and Company Secretary.


#3

Good call Self-made.

Next few days will be ineteresting, for sure.

nk