Warburg rises on bid expectations

Warburg rises on bid expectations

SG Warburg entered the Bank Holiday weekend 15p firmer at 842p on expectations that an offer by Swiss Bank Corporation worth between 860p and 1,100p per share - assuming the company distributes its Mercury Asset Management stake among shareholders - will be announced this Wednesday. There is still speculation that a third party may come in with a counter-bid for Warburg. MAM added 11 p to finish at 887p, with analysts less convinced of a takeover, though fairly confident of talks being entered into. Were a bid to come about, City commentators said they would be looking for a successful approach to be offering £10 to £11 per share.