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VT interest in Mouchel triggers city rally

Shares in Mouchel soared by 33% today as VT Group - formerly shipbuilder Vosper Thornycroft - is understood to be interested in acquiring the consultant.

VT Group are understood to have made two approaches to acquire 100% of shares in the consultant.

Mouchel’s board has so far rejected both offers, which it says “substantially undervalues” the company.

VT confirmed that: “It has made two approaches to Mouchel over a four week period with a view to initiating a constructive dialogue.  

“To date, Mouchel has refused to enter into any form of discussions. VT is continuing to review its options,” read a statement.

Press reports over the weekend suggest VT Group offered 250p per share. Shares in Mouchel rose more than 30% to 253p in early trading but have since settled back to 235p - a 24% increase.

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