Shares in FBD have risen by more than 18 per cent today after the insurer confirmed that it has received a preliminary takeover approach from privately-owned Dutch financial giant Eureko.
At 12.45pm shares in FBD were trading at €34.50 up over €5.30 or 18.1 per cent, the sharpest rise in more than 4 years.
In a statement to the Irish Stock Exchange earlier this morning FBD said the approach was "unclear" and "appears to differentiate among shareholders and is highly conditional."
The statement added that "no offer has been received" and that there was no certainty that a formal offer would follow.
Weekend media reports said that Eureko had lodged a €1.2 billion takeover approach with FBD. Shares in FBD closed at €29.20 on Friday giving it a market capitalisation of €970 million.
