Fleet News

BCH share price rises after negotiations announcement

BRISTOL-based leasing and fleet management company BCH Vehicle Management is in talks following an approach that may or may not lead to an offer being made for the company. The company floated on the Stock Exchange a year ago but has been concerned that its falling share price in recent months - which dipped to 129p - left it vulnerable to a predatory takeover following a spate of takeovers in the sector.

BCH, which operates more than 16,000 vehicles, will no doubt be looking for a suitable parent that would give it access to cheaper funds, while sheltering it from the vagaries of the Stock Exchange. A statement to the City on Thursday confirmed that BCH was in negotiations. Consequently the company's share price rocketed 49p to 218.5p before closing last week at 220p.

The move will, however, put an end to the company's independence. However, if the bid succeeds it will give BCH a much stronger platform from which to continue its expansion plans.

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