Takeover talk boosts Coastal

Suzie Neuwirth
COASTAL Energy, one of the biggest stocks on Aim, rose over five per cent yesterday despite the company playing down speculation of a potential takeover offer.

The oil and gas explorer said that it “continuously evaluates opportunities to maximise shareholder value” but that there is no deal to announce at present. It is reported to be the subject of a $2.3bn (£1.5bn) takeover offer from Hong Kong-based Jynwel Capital. Shares closed five per cent higher.