RS Group shares rose 5 % on Monday morning following a report in The Times that a takeover bid was in the works.
According to The Times the bid would be worth £15 a share and value RS at £7 billion. The bidder’s name is not disclosed.
In its latest trading update issued in July, RS reported like for like revenue growth of 18 % in Q1.
Its industrial products range which represent about 73 % of Group revenue, grew like for like sales by 21 %.
The EMEA region posted sales up 16 % in a sixth consecutive quarter of revenue growth. The Americas revenue rose 24 % in Q1, and Asia-Pacific sales advanced 13 %.
Own brand business RS PRO grew like for like revenues by 21 %.
Web revenues grew 20 % like for like in Q1.
RS Group has been active itself in the acquisition arena, buying domnick hunter-RL (Thailand) Co. Ltd., a leading distributor and service provider of major air compression, purification and filtration products in Thailand, for c. £10 million in June, and to strengthen its proposition in Asia/Pacific.
Earlier this month it acquired Risoul, a family-owned distributor of industrial and automation product and service solutions in Mexico, for £228 million.