Marlowe in takeover talks with Mitie, shares spark

(Sharecast News) - Business-critical services provider Marlowe surged on Wednesday as it confirmed it is in talks with Mitie Group about a possible takeover. In a brief statement in response to press speculation, Marlowe said there can be no certainty that any firm offer for the company will be made, nor as to the terms on which any offer might be made.

It added that a further announcement will be made when appropriate.

Under UK takeover rules, Mitie has until 1700 BST on 2 July to either announce a firm offer for Marlowe or walk away.

At 1115 BST, Marlowe shares were up 10.7% at 407.30p.