(Alliance News) - Murgitroyd Group PLC confirmed Tuesday it is in "advanced" discussions with a UK private equity firm about a possible GBP61 million offer for the intellectual property law firm.
In response to recent share price movements for the firm, Murgitroyd confirmed it received a 675 pence per share cash indicative offer from Sovereign Capital Partners LLP. The offer also assumes the payment of the already announced 15 pence per share final dividend.
Shares in Murgitroyd were 2.9% lower at 655.55 pence in London on Tuesday, having risen 13% since the start of October.
Murgitroyd emphasised the proposal from Sovereign was "non-binding" and that there can be "no assurances that an offer will ultimately be made" for the firm.
By Ahren Lester; ahrenlester@alliancenews.com
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