Allied London, the company run by Howard Stanton and Mike Ingall, has received a bid approach.
In a Stock Exchange announcement this morning Allied London said: “Following recent movements in the company’s share price the board announces it has received a preliminary approach which may or may not lead to an offer.”
Yesterday a private company Savoylane revealed it has bought a 5.96% stake in Allied London, pushing the share price to a 109.5p twelve month high.
Chairman Howard Stanton was unavailable to comment.
EGi News 17/11/99
