Cape attracts £332m Altrad bid

Cape attracts £332m Altrad bid

Cape (CIU) looks set to be the next UK corporate to fall into foreign ownership, after the industrial services outfit recommended shareholders accept a £332m bid from French scaffolding group Altrad. At 265p a share, the all-cash offer represented an immediate 46 per cent premium to the closing price, but a much slimmer bonus to the stock’s 249p price tag at the start of June.

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