Shares of Financial Times parent rise on takeover speculation
Shares of Pearson Plc, the parent of financial newspaper Financial Post, rose amid speculation that it’s a potential takeover target, according to a Reuters story.
The Reuters story stated, “‘The credit default swaps have been widening on Pearson and this is a lead indicator of takeover speculation,’ said ABN AMRO analyst Paul Gooden.
“A spokeswoman for Pearson said the London-based company never commented on market speculation.
“At 0957 GMT, shares in Pearson were up 1.4 percent at 823-1/2 pence, the best performance among UK media stocks at a time when the Dow Jones Stoxx media index was unchanged.
“Potential bid interest has underpinned Pearson’s shares in recent months, particularly in the run-up to last month’s results amid speculation of a potential leveraged buyout or possible move by Chief Executive Marjorie Scardino who has been running the company for 10 years.”
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