Fuel cell catalyst specialist Acta soars on takeover specualation
Shares in Italian fuel cell catalyst specialist Acta S.p.A. (ACTAq.L) soar by nearly 50 percent, having risen by over 75 percent on Tuesday, as takeover speculation gains momentum.
One trader cites talk that either an existing or prospective partner could be tempted to make a full bid for the company given the attractiveness of more environmentally friendly types of fuel production.
“It’s obviously speculation but there could have been something happening in the last couple of days. I expect at some stage they’ll have to put out an announcement saying whether they have or haven’t had an approach,” said one trader.
Acta already has a development contract with a unnamed major Asian manufacturer and Japan’s Sumitomo Corporation. It also said last week it had received commercial interest in its water electrolyser technology which can be used as a recharger for fuel cell devices.
