(Sharecast News) - Digital marketing group Be Heard said on Tuesday that it is in advanced discussions with London-based marketing communications group MSQ Partners about a possible cash offer of 0.5p a share.
AIM-listed Be Heard said MSQ "has expressly reserved the right to reduce the offer consideration by the amount of any dividend or other distribution or return of capital which is paid or becomes payable by Be Heard after the date of this announcement".
It added that there can be no certainty an offer will be made.
Under takeover rules, MSQ has until 1700 BST on 7 July to either announce a firm intention to make an offer or walk away.
At 1240 BST, Be Heard shares were up 54.8% at 0.4025p.
Be Heard Shareholders Approve GBP6.2 Million MSQ Takeover