Coms considering takeover of Pinnacle Technology [Herald, The (Scotland)]
(Herald, The (Scotland) Via Acquire Media NewsEdge) SHARES in Pinnacle Technology soared 24% after a rival confirmed it is looking at a takeover which values the Paisley telecoms group at pound(s)6.7 million
AIM-listed business telephony specialist Coms, which has its headquarters in London, said it is considering whether to make an offer for Pinnacle.
Coms said: "In the event that an indicative offer is made, it is the current expectation of the Board that any such indicative offer would be at or around 21p per Pinnacle share."
Pinnacle's shares closed up 4.25p to 22p.
The company has provided a range of telephony and IT services for high-profile events, ranging from the London Olympics and Queen's diamond jubilee celebrations to the Glastonbury and T in the Park music festivals.
It has its own data centres in Glasgow, London and Brighton.
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