ARC jumps on bid approach

Shares in Arc International jumped after the chip designer confirmed it is in talks with an unnamed third party regarding a potential offer for the group."ARC notes today's movement in the company's share price and confirms that it is in discussions with a third party which may or may not lead to an offer being made for the entire issued and to be issued share capital of the company," said the group. "The discussions are at a preliminary stage and there can be no certainty that an offer will be made for ARC or as to the terms on which any offer would be made."A further announcement will be made if and when appropriate, the group added. Arkle Res