Market Report ; Brokers Turn Wary of Exel As Bid-Approach Talk Fades

Evening Standard - London › February 08, 2005

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Summary

LOGISTICS and transport group Exel has shot up from a low of 682p in October, driven by talk of a takeover. The shares traded just below their peak of 873p yesterday as the profit-takers moved in.

It has certainly been a helterskelter performance in recent days but the company itself has remained tight-lipped throughout.

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Extract

Market Report ; Brokers Turn Wary of Exel As Bid-Approach Talk Fades

Last week's speculation-fuelled surge was prompted by claims that American parcel-delivery outfit UPS was ready to offer up to 1000p a share, which wou...

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