Shares in Convatec jumped to one-month highs on Tuesday after Swedish business daily Dagens Industri said several investors are considering an offer for the British medical device maker after the recent slump in its stock.
One of the interested parties is Swedish private equity firm EQT, according to the report, which cited anonymous sources.
The FTSE 250-listed shares were up 8.1 percent at 0857 GMT after hitting their highest since mid-February. They were top of the pan-European STOXX 600.
Turnover was high with 4.4 million shares changing hands in the first hour of trading, just shy of the long-term total daily average.
Convatec and EQT declined to comment.
The shares plummeted a month ago after the company launched a turnaround plan following disappointing annual results.
By Josephine Mason
The deal will enhance Merck’s expertise in developing and manufacturing mRNA for its customers for use in vaccines, treatments and diagnostics applicable in Covid-19 and various other diseases.
It’s the first significant visual redesign for Pfizer in 70 years since the company began using the blue oval background. The tagline outlining Pfizer’s purpose, “Breakthroughs that change patients’ lives,” remains the same.
The massive growth of gene therapy research and development over the last few years has boosted demand for viral vectors, the engineered viruses used to deliver therapeutic genes into patients’ bodies. Tokyo-based Fujifilm Diosynth Biotechnologies is stepping up to meet that demand.