Raymarine shares jump on takeover news

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Raymarine, one of the global leaders in marine navigation has received a takeover approach, news which has sent its shares soaring yesterday on the British stock exchange.

Yesterday Raymarine shares jumped 47.75p to 293.75p, valuing the company at around £240m.

The Board of Raymarine confirmed it has received a preliminary approach which may or may not lead to an offer being made for the Company.

Under new management over the last year Raymarine has been taking over its own distribution across Europe and the Asia Pacific.