LONDON (Reuters) - Shares in Weir Group (L:WEIR) rose to the top of the FTSE 100 (FTSE) leaderboard on Friday, with traders citing speculation that the engineering firm may be subject to a bid after a slump in its share price in recent months.
Weir Group rose 3.5 percent to 18 pounds, building on a 2.8 percent gain on Thursday, with several media outlets including the Daily Mail and the Telegraph attributing Thursday's move to bid speculation. The Mail added that a private equity consortium might be preparing a 25 pound ($38) break-up offer.
A Weir Group spokesman declined to comment on the market speculation.
($1 = 0.6568 pounds)