ITV shares will be in the spotlight when the stock market reopens today following reports it has become a takeover target.
The stock has fallen more than 10 per cent this month – and suitors are said to be looking to take advantage of its depressed valuation.
The firm, which is home to shows including Coronation Street, and whose production arm ITV Studios is behind Disney+ hit Rivals starring David Tennant, is valued at £2.5billion.
Private equity giant CVC Capital Partners is exploring a deal for ITV with a European broadcaster.
Hit: The company’s production arm ITV Studios is behind Disney+ hit Rivals starring David Tennant
That could see CVC take ITV Studios with the broadcaster taking the rest of ITV, Sky News reported.
Russ Mould, investment director at AJ Bell, said ITV’s shares may ‘have a little run’ on the back of the reports of a takeover.
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