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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