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T&N merger options floated

ImageMulti-national T&N today floated merger options, with a hefty 160% floater in the offering.

According to people familiar with the offer a sizeable portion of the floatation will be in tanks, with late day rounding fees being avoided in line with the recently updated FANDAQ ruling ; a move that is likely to be warmly welcomed by the majority of shareholders in both businesses.

Both T&N shares jumped rapidly after the announcement, before rebounding frequently.

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