(Alliance News) - Ideagen PLC shares rose on Thursday after it said that two private equity firms showed interest in acquiring it with cash offers.
Shares in Ideagen were up 9.2% at 237.00 pence each on Thursday afternoon in London.
Ideagen is a Nottingham-based provider of information management, safety, risk and compliance software.
It said it has received proposals regarding cash offers from private equity firms Astorg and Hg Pooled Management Ltd. The companies are required to make a firm offer by June 2 or to announce that they do not wish to make an offer, Ideagen continued.
Ideagen stressed that there no certainty that a firm offer will be made and said it will make further announcements in due discourse.
London-based Hg Pooled Management Ltd, separately, confirmed that it is the preliminary stages of considering a possible offer for Ideagen.
Cinven Ltd, its London-based peer, however, said it does not intend to make an offer for Ideagen, despite having considered to do so in April.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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