Trump/Putin summit, UnitedHealth and Japan’s GDP - what’s moving markets
Investing.com -- Shares of Iveco Group rose over 3% on Friday following reports of heightened takeover interest in its military division, Iveco Defence Vehicles (IDV).
According to media reports, Czechoslovak Group (CSG), a Czech industrial holding company, has made a preliminary bid for IDV. Sources familiar with the matter suggest this offer could exceed the €1.5 billion valuation underpinning a rival proposal from a joint venture involving Italy’s Leonardo and Germany’s Rheinmetall (ETR:RHMG).
Interest in IDV appears broad-based. Spain’s Indra and private equity firms Bain Capital and KPS Capital Partners (WA:CPAP) have also reportedly made approaches.
Amid speculation that Indra may align its efforts with the Leonardo consortium, market sentiment turned bullish.
The bidding activity is being viewed as a strong endorsement of IDV’s value and growth potential.