Sage slips as French group Ingenico reveals a bid approach

Shares in Sage have slipped back following news of a bid approach for French group Ingenico. Sage has been tipped in the past as a possible suitor for Ingenico, although traders had cooled on the tale a little recently, as has online auction site Ebay. But whoever it is, there is a predator out there. Ingenico, which specialises in payment solutions, said this morning it had received a cash offer at €28 a share, valuing the company at just over €1.4bn, and was in discussions about a possible transaction. Sage is down 4.6p at 274.8p, a 1.65% decline.