Theo Fennell takeover bid

Shares in Theo Fennell jumped by 95 per cent in afternoon trading after the celebrity jeweller finally succumbed to a takeover bid from EME Capital, a London-based boutique finance house with Middle East connections.

The company – which is favoured by celebrities including Cheryl Cole, Lady Gaga and Victoria Beckham – revealed in September that it was in “very preliminary talks” with EME Capital and was granted a total of ten deadline extensions by the City’s Takeover Panel to allow the discussions to continue.

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The suitor is offering shareholders 12.5p a share, double Wednesday’s closing price.

EME Capital’s offer values Theo Fennell at £2.9 million.