Serco rises as market backs US naval services M&A
Shares in Serco, the UK outsourcing company, rose more than 8% on Thursday morning after the company announced a £130m growth capital raise to finance the takeover of Alion’s naval design and systems engineering business, a leading supplier of services to the US armed forces.
Serco launched its capital raising early on Thursday morning after a wall-crossing exercise and was covered quickly.Strong demand meant the deal was priced at 126p, a 4% premium ...
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