On February 6, Spanish stock market regulator CNMV halted trading in Talgo shares following media reports hinting that Basque steel company Sidenor might be gearing up for a takeover. Sidenor had previously expressed interest in acquiring a stake in Talgo back in October.
According to newspaper Cinco Dias, Sidenor was considering offering up to 4.80 euros ($4.98) per share to acquire a 29.9% stake held by investment fund Trilantic.
Sidenor chose not to provide any comments on the matter, while both Talgo and Trilantic did not respond immediately to requests for clarification.
Earlier in August, the Spanish government rejected a 5 euro per share bid made by the Hungarian consortium Ganz-Mavag for Talgo.
(Note: $1 = 0.9644 euros)