Viridian shares rise on takeover bid

SHARES in Viridian Group jumped in early afternoon trading in London yesterday after the group, Northern Ireland’s leading energy supplier, said it had received a takeover approach.

The stock, which has risen in recent days as takeover speculation mounted, rose a further 13% to £13.30 (€19.67), valuing the group — previously known as Northern Ireland Electricity — at £1.5bn (€2.21bn).The former state-owned company, which is listed in London and Dublin, did not identify the potential bidder, but there had been talk earlier this week that an Asian investor was building a stake.