IWP shares jump in anticipation of buyout bid

SHARES in IWP International shot up in the last two days in anticipation of a management buyout offer.

Finance director Bernard Byrne is understood to be heading the MBO bid.

It is also understood that Jim Murphy, former boss of Golden Vale, now owned by Kerry Group, had been lined up to succeed Joe Moran as chief executive of the group. Mr Moran, founder and chief executive said: “If someone comes in with a firm offer that’s a premium to the current share price, we will have to consider it.” The shares closed in Dublin yesterday at 31c.