17/03/2008
Pharmaceutical services concern Premier Research has confirmed it is in the ‘final stages’ of talks about a £1-a-share bid.
The acquisitive AIM-quoted company revealed in November that it was talking to some members of its management and their backers about a possible bid. At that stage, Berkshire-based Premier announced a £50 million order intake so far that year, but warned of a £3 million revenue hit caused by project delays.
Floated in late 2004 at 40p, Premier shares hit 280p by early 2007, but plunged to 34p last December. They have now reached 88p, up 16p today, valuing the company at £53 million.
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