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Innovation Group downgraded by N+1

01 September 2015 14:49

N+1 Singer has downgraded its recommendation on The Innovation Group (LON:TIG) to hold from buy after the board unanimously recommended a 40p cash offer for the group by Carlyle Europe Partners.

Nevertheless, the broker added: "We believe the deal will go ahead and brings to a conclusion a successful period under which the management team had turned around the business (from 2009) through a combined organic and inorganic growth strategy."

Analysts have also aligned their target price to the offer price at 40 pence a share.

At 2:49pm: (LON:TIG) Innovation Group The PLC share price was +1.13p at 39.88p

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