Shares in Swiss bank EFG jump on renewed takeover speculation

ZURICH, June 6 (Reuters) – Shares in Swiss bank EFG International (EFGN.S), opens new tab rose by as much as 10% on Thursday fuelled by a media report that the bank could soon be subject to a takeover bid by Swiss rival Julius Baer.

Swiss financial news website Inside Paradeplatz said there was market talk Julius Baer was lining up a bid for EFG in shares and cash worth 4.5 billion Swiss francs ($5.05 billion), although it described the information as “speculation”.

Source: REUTER