Building materials group Readymix Plc today announced that it is in discussions that could result in a takeover of the company.
“Discussions are at an early stage and there can be no certainty that these will lead to an offer for Readymix nor as to the terms on which an offer, if any, might be made,” Readymix said in a statement to the Irish Stock Exchange.
It said further announcements will be made when appropriate.
Shares in Readymix rose 44 per cent in early trading. The stock was trading at 25 cent at 8.15am, up 8 cent.
Readymix reported a loss of €6.6 million for the first six months of the year in August.
The deficit was roughly in line with the first half of last year, when the company lost €6.9 million before tax.
Its operations lost €6.1 million during the six-month period, before exceptional charges, which included €500,000 in rationalisation costs.
