Takeover offer for Finsbury Food Group sends shares up 23%

Finsbury Food Group looks set to be the next in a growing number of London-listed firms moving to private ownership, after a £143.4 million takeover offer for the bakery business was made. The 110p cash per share proposal from a company owned by funds managed by asset management firm DBAY, is a 23.6% premium to the 89p closing price on September 19. Shares in Finsbury Food Group, which listed in London in 2007, leapt 23%, or 20.55p, to 109.55p following the update.