Iona rises 12% on bid speculation

IONA TECHNOLOGIES rose as much as 12% in New York trading after a report that Software AG may make a bid valuing the Dublin-based company at more than $4 per American depositary receipt.

Iona rises 12% on bid speculation
Fri, 22 Feb, 2008 - 00:00

Software AG spokesman Paul Hughes said the company wouldn’t comment on market speculation. Iona spokeswoman Tara Humphreys couldn’t immediately be contacted.

Iona yesterday appointed advisers to review strategic options, including a possible sale.

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CourtsPlace: New YorkPlace: DublinPerson: Paul HughesPerson: Tara HumphreysOrganisation: IonaOrganisation: Iona TechnologiesOrganisation: Software AG
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