The spread betting firm owned by Michael Spencer has agreed to buy the financial trading platform operator for a total consideration of £57.9m or 180p per share. Under the terms of the deal, IFX Group, which also runs a large foreign-exchange business, will delist from the London Stock Exchange.
In separate news, last week, directors and senior managers at spread betting firm IG Group disposed of £42m worth of shares, accounting for around 6 per cent of the company.
Citigroup has upgraded William Hill to “buy” from “hold” following the bookmaker\’s first half figures released on Tuesday. The broker said underlying earnings came in ahead of its own forecasts as it upped its EPS estimates for 2006 by 6%.
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