Cambian shares surge on question takeover from a competitor CareTech

The merger of two listed social assistance to businesses may be on the cards after CareTech offered £405m reverse takeover of its competitor Cambian.

Shares of the FTSE SmallCap company Cambian increased by 33.6 PC 190p after it became clear that CareTech proposed offer 220L per share of the company.

Cambian, which is one of the largest specialists in the education and behavior of medical personnel in the UK, said: “this proposal is at a preliminary stage and there can be no certainty that any offer will be made nor as a condition of any offer.”

AIM-listed CareTech said that the possible offer for Cambian will be covered through a combination of share and cash funded by new borrowings….

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