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Second Pinewood bidder causes shares to climb

Second Pinewood bidder causes shares to climb
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Pinewood-Shepperton saw its share price rise 12.13p to 203p after it was revealed that a second bidder has entered the running to invest in stock in the company behind Pinewood film studio.

The new player in negotiations has remained anonymous for the time being, but its presence may force Peel Holdings, the original bidder, to up its offer.

Peel, which owns 29.78 per cent of Pinewood, put in an offer of 190p per share earlier this month.

This would place the value of the whole company at just under £90 million, but that was before the emergence of the second bidder.

However, Malcolm Morgan, an analyst at Peel Hunt, said: "Peel, given its existing holding and the potential synergies with its existing activities, remains in a leading position to launch a successful bid."

A host of iconic films have been shot at Pinewood in Buckinghamshire, including several James Bond titles and the final two Harry Potter movies.

Posted by Clive ArneilADNFCR-1681-ID-800507846-ADNFCR