Augean Shares Jump as Morgan Stanley Infrastructure Mulls Approach -- Update

By Adria Calatayud

Shares in U.K. waste-management company Augean PLC rose Thursday after Morgan Stanley Infrastructure Inc. said it is considering making an approach regarding a possible takeover offer.

Shares in Augean at 0819 GMT were up 17% at 290 pence ($4.09), giving it a market capitalization of around GBP304 million.

Morgan Stanley Infrastructure, an infrastructure-investment arm of the U.S. bank, confirmed that it is in the preliminary stages of considering an approach to Augean in response to recent press reports. The move was first reported by Bloomberg.

There can be no certainty that an offer will ultimately be made for Augean, nor as to its potential terms, Morgan Stanley Infrastructure said.

In response, Augean confirmed it hasn't received an approach regarding an offer from Morgan Stanley Infrastructure and said that a further announcement will be made when appropriate.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

05-27-21 0442ET