Takeover bid for broker

RETAIL stockbroker Share has been approached about a takeover by Interactive Investor Services. The company, whose main business is The Share Centre, confirmed the move after its stock surged to its highest for almost four years – 13pc, to 34.5p.

Interactive has until the end of May to confirm whether it intends to make an offer for the business.

Last month, The Share Centre agreed to acquire £750m worth of assets and 20,000 customers, predominantly in investment trusts, from JP Morgan Asset Management.

The Buckinghamshire firm was founded in 1991 and floated in 2008.