FD Technologies in 'advanced' takeover talks with TA Associates

(Sharecast News) - FD Technologies confirmed on Wednesday that it was in advanced discussions with TA Associates regarding a possible all-cash offer for the company at 2,450p per share. The AIM-traded firm said the potential bid, received on 24 March, also included an unlisted share alternative.

Its board said it would be minded to recommend the proposal to shareholders, should a firm offer be made on the same financial terms and subject to customary conditions.

The discussions followed a series of non-binding approaches, and came amid recent share price movements.

Under the UK Takeover Code, TA Associates had until 1700 BST on 4 June to either announce a firm intention to make an offer or confirm it did not intend to proceed.

That deadline could be extended with the consent of the Takeover Panel.

FD Technologies noted that there was no certainty that a formal offer would be made.

At 1217 BST, shares in FD Technologies were up 23.3% at 2,377.25p.

Reporting by Josh White for Sharecast.com.