(Alliance News) - Alpha Financial Markets Consulting PLC shares soared on Wednesday, as it confirmed that BridgePoint Advisers Ltd is considering a cash offer.
Shares in Alpha Financial traded 40% higher at 468.75 pence late on Wednesday morning in London.
The Paris-based asset and wealth management and insurance consultancy said it was responding to media reports.
It confirmed the non-binding indicative proposal from BridgePoint, regarding a possible offer for its entire share capital. Alpha Financial said Cinven Ltd is also "considering a possible offer", but has not yet submitted any indicative proposal.
Alpha Financial said BridgePoint has until May 29 to announce its firm intention to make a takeover offer or to announce it does intend to make an offer, as does Cinven. The company confirmed that it "is now in an offer period".
By Emma Curzon, Alliance News reporter
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Alpha Financial Markets Consulting (AFM)