UPDATE 1-Takeover talk, stakebuilding drive up Valeo shares

Newswire

(Wraps in Apollo bid report, updates shares, adds detail) PARIS, March 22 (Reuters) - Shares in French car parts group Valeo reached their highest level in nearly 5 years on Thursday, helped by a bid report and by U.S. hedge fund Pardus raising its stake in the company. Valeo shares were up 4 percent at 43.30 euros in late morning trade, the stock's highest level since mid-2002. Its shares had earlier risen as much as 7.6 percent to an intraday high of 44.80 euros. A Pardus spokesman ...

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