Source BioScience gets potential 18p a share offer

(ShareCast News) - Shares in Source BioScience are up more than 15% after it received a potential but firm 18p a share cash offer from Continental Investment Partners SA and Harwood Capital LLC.The potential offer was, subject to due diligence, expected to include an unlisted securities alternative, Source BioScience said.An 18p a share tilt would represent a premium of about 21% to the closing mid-market price of Source BioScience's shares on Thursday. Today they are up 15.13% to 17.12p.Certain clients advised by Continental hold 25.46m shares in Source BioScience, representing about 7.29% of that company's issued capital. Funds managed or advised by Harwood hold 82.5m shares, or about 23.62%.