Financial services company IFG Group said today that it had received a new takeover approach, as bid interest mounts for the group. Shares in the group rose sharply higher after the news.
IFG did not identify who had made the latest approach for it, but The Sunday Times said yesterday that private equity firm Fiordland - which is IFG's top shareholder with a 19% stake - had expressed an interest in buying the company.
'The Board of IFG notes recent media speculation and confirms that it has received a further approach, which also may or may not lead to an offer being made for the company,' a brief statement said this morning.
The company added that a further announcement will be made 'if and when appropriate'.
Fiordland would be vying with private equity rival Bregal Capital, which The Sunday Times had said was behind an approach for IFG earlier this month.
Shares in IFG jumped by 8.6% to close at €1.90 in Dublin this evening.
