Financial Times FT.com

Court clears Expro sale to Candover-led group

By Megan Murphy and Michael Kavanagh

Published: June 27 2008 04:59 | Last updated: June 27 2008 04:59

Traders beat the High Court to a final verdict on Expro International on Thursday as disgruntled investors failed to prevent a judge from approving a £1.8bn ($3.6bn) sale of the oil services group to a consortium led by Candover, the private equity group.

Expro shares hit a high of £16.40 early on Thursday – 25p more than the consortium’s £16.15 recommended offer – as traders bet that a hearing, originally expected to rubber-stamp Expro’s sale, might be adjourned for an extended period.

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