Harmony Energy Income Trust Would Recommend $246.8 Mln Foresight Offer if Formal Deal Made

Dow Jones
03-17
 

By Ian Walker

 

Harmony Energy Income Trust said it has agreed to the terms of a 190.8 million pound ($246.8 million) takeover by Foresight Group LLP that it would recommend to shareholders if a formal deal were made.

The London-listed company said that the offer being proposed is 84.0 pence for each share held. The price is a 29% premium to Harmony's closing share price of 65.2 pence on Friday.

The company cautioned that there is no certainty a formal deal would be made. Foresight has until April 14 to either make a formal offer to buy Harmony or walk away under U.K. Takeover Panel rules.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

March 17, 2025 03:43 ET (07:43 GMT)

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