Glasgow's Giles mulls a bid for CBG

By The Newsroom

Published 19th Jul 2011, 21:44 BST

Updated 20th Jul 2011, 22:24 BST

GILES Insurance Brokers, the acquisitive Glasgow-based group, yesterday confirmed it is in discussions with Aim-quoted rival CBG about making a possible £5.1 million offer for the company.

The potential 32p offer represents a 54.2 per cent premium to the price at which shares in Manchester-based CBG closed on Monday. Giles stressed there "can be no certainty that any offer will be made".

Glasgow Manchester