Property group Mapeley has been a rumoured target for a possible management buyout for some little while. Today the company admitted it has received a bid approach, and its shares have jumped 20% to £17.51.
The company does not identify its possible suiter, but US investment fund Fortress owns more than 50% of the shares. So if Fortress has not made the approach it will play a key role in any deal.
Heading the other way is computer games retailer Game. It has fallen 14% to 192.75p after news that chief executive Lisa Morgan and finance director David Thomas sold around £5.4m worth of shares between them yesterday. The sales related to options and incentive plan shares, but investors have clearly decided to follow the management's lead. The company recently said its results for the year to January 2008 would be ahead of expectations, but indicated sales growth could slow over the next twelve months.
The FTSE 100 is still holding above 6000 - up 40.7 points at 6040.2 - despite early falls in the US after poor consumer confidence and home sales figures. On top of that comes news that US housing repossessions almost doubled in January compared with a year ago.
