Shares in smart meter group Sureserve soared as it became the latest London-listed firm targeted by private equity.
The AIM-listed company, which provides energy services to social housing, including the installation of smart meters, backed a 125p a share offer from French buyout group Cap10, which valued it at £214m.
Buyout: Sureserve provides energy services to social housing, including the installation of smart meters
Sureserve shares jumped 37.2 per cent, or 33.5p, to 123.5p.
But Peel Hunt analyst Andrew Nussey said the bid undervalued the firm, and a rival approach could not be ruled out.
