(Alliance News) - Purplebricks Group PLC confirmed on Wednesday talks with Strike Ltd regarding a potential offer in formal sales process.
Purplebricks, an online estate agent based in Solihull, England, said Strike could potentially participate in its formal sales process, which was launched earlier this month to "fully explore the option of the potential sale of the group".
However, Purplebricks noted that Strike "is not participating in the formal sale process" currently, adding that "there can be no certainty as to whether Strike will make an offer for Purplebricks, nor the terms of any such offer."
Strike is required to announce wether it has a firm intention to make an offer by April 12.
Like Purplebricks, Strike is an online estate agent, based in Colchester, England.
Shares in Purplebricks were up 11.6% at 7.70 pence in London on Wednesday afternoon.
By Sabrina Penty; Alliance News reporter
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