Fresh approach for James Hay parent company

IFG Group, the parent company of James Hay, says it has received a fresh takeover approach.

In a statement to the stock market this morning, the firm says a new approach has been made to acquire the business following another expression of interest earlier this month.

The Sunday Times reports that private equity firm Fiordland, which is IFG Group’s biggest shareholder with a 19 per cent stake, has expressed an interest in buying the company.

IFG Group says: “The Board of IFG notes recent media speculation and confirms that it has received a further approach, which also may or may not lead to an offer being made for the company.”