Why the McPherson’s (ASX:MCP) share price is zooming 14% higher today

The McPherson’s Ltd (ASX: MCP) share price is surging notably higher on Thursday morning.

At the time of writing, the personal care and beauty products company’s shares are up 14% to $1.39.

Why is the McPherson’s share price surging higher?

Investors have been fighting to get hold of shares this morning after McPherson’s announced the receipt of a takeover approach.

According to the release, Gallin Pty Ltd has made an unconditional on-market takeover offer of $1.34 cash per share.

While this represents a 9.8% premium to its last close price, it is a very opportunistic 60% discount to its 52-week high.

What is Gallin Pty Ltd?

A separate release explains that Gallin has been incorporated specifically for the purpose of…