GCP Student Living posted the sharpest stock increase in the FTSE 350 today after the student accommodation company announced a £970m takeover.
Scape Living and iQ – backed respectively by APG Asset Management and Blackstone – has offered 213p a share to buy the business and split its portfolio. GCP’s board is recommending shareholders accept the offer.
GCP’s shares rose by 12.5% to close at an all-time high of 216p.
The FTSE 100 finished the week at 7,008, up just 0.06% on the day, with the FTSE 250 up 0.15% at 22,467.
