Advanced Medical Solutions notes lack of offer proposal from Montagu

(Alliance News) - Advanced Medical Solutions Group PLC on Thursday said it has not received a proposal from Montagu Private Equity LLP, as it responded to the investment firm's takeover interest.

The Cheshire, England-based surgical dressings company said there can be no certainty a firm offer will be made, adding that, as per the takeover code, Montagu has until the evening of April 24 to commit to either making an offer or not making one.

Shares in Advanced Medical Solutions were down 1.5% at 230.00 pence on Friday morning in London.

On Thursday, London-based mid-market private equity firm Montagu said it is considering making a takeover offer for Advanced Medical Solutions.

Advanced Medical Solutions noted that as a consequence of the interest, it is now in an "offer period" as defined by the code.

By Christopher Ward, Alliance News reporter

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