How Devro shares sizzled higher on 65%-premium takeover offer
- Devro agrees to £540 million takeover
- Takeout price represents tasty premium
- Sausage skin maker to exit stock market after almost 30 years
Shares in Devro (DVO) spared 60% to 307p after the sausage skin maker agreed a juicy £540 million takeover by Saria, a leading player in the agriculture, food and biofuels sectors owned by one of Germany’s richest families.
Pitched at 316.1p a share in cash, a generous 65% premium to yesterday’s (24 November) 192p closing …