28th Aug 2015 10:19
LONDON (Alliance News) - Insurance software provider The Innovation Group PLC on Friday confirmed advanced talks with private equity firm Carlyle Group over a potential offer valuing it at 40 pence per share.
A deal at 40 pence per share values Innovation Group at about GBP500 million.
Carlyle has until September 25 at 1700 BST to make a firm offer or walk away.
Confirmation of the talks followed a report by Sky News.
Innovation Group shares jumped by 9.1% to 38.44 pence on the news.
By Samuel Agini; [email protected]; @samuelagini
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