Shares in Watches of Switzerland hit a three-year high after it became the latest British company to be targeted by predators.
The stock jumped as much as 8 per cent to 778.5p – a level not seen since May 2023 – after it was reported that bosses had held talks with potential buyers in recent months.
The shares ended the day up 4.2 per cent, or 30p, at 749.5p, valuing the FTSE 250 Rolex seller at £1.75billion.
The interest in Watches of Switzerland – reported by Reuters – comes amid a flurry of takeover activity as overseas bidders swoop on London-listed firms.
A host of FTSE 100 companies have been targeted, with Lloyd’s insurer Beazley, asset manager Schroders and laboratory testing firm Intertek falling into foreign hands.
