Evolution Group receives preliminary bid approach

Shares of Evolution Group soared nearly 10% after the wealth management firm said it had received a preliminary approach for the company, but did not disclose the suitor's name. Evolution Group said discussions with the potential buyer are in the "very early stage" and added that it is "far from certain that it will ultimately result in an offer being made."In July, the London-based firm said its private client investment manager Williams de Broe, is in talks to acquire BNP Paribas Private Investment Management.In the past month, shares of the company have gained more than quarter of their market value. Shares of the company advanced 8.8% to 80p in late morning trading in London. AR