Craneware surges as Bain Capital assessing potential takeover offer

(Sharecast News) - Craneware surged on Friday as it confirmed that private equity firm Bain Capital is assessing a possible takeover offer for the group. Responding to press speculation, Craneware said: "This evaluation is highly preliminary in nature, and has not to date involved any approach to the board of Craneware."

It added that there can be no certainty that any firm offer will be made, nor as to the terms on which any offer might be made.

Under UK takeover rules, Bain has until 13 June to either announce a firm intention to make an offer or walk away.

At 1045 BST, the shares were up 11% at 2,275p.

Craneware is involved in the development, licensing and ongoing support of computer software for the US healthcare industry.