IFG shares surge as it accepts €240m takeover bid

Shares in Irish-founded financial services group IFG surged by over 43% on the back of the company accepting a €240m takeover offer and showing a return to profit.

UK private equity firm Epiris - via a subsidiary company called SaintMichelCo - has had its offer of £1.93 per share, or around £206m (€240m) in total, accepted by IFG's board, which in turn has recommended the offer to its shareholders.