Bridgepoint said to explore £550m bid for Advanced Medical Solutions, shares surge

(Sharecast News) - Advanced Medical Solutions surged on Friday following a report that private equity firm Bridgepoint is exploring an offer for the company that could value it at between £550m and £600m. According to banking sources cited by Sky News, Bridgepoint is examining a bid valuing AMS at between 270p and 280p per share, a premium of more than 30% to its current share price.

Sky said it was unclear on Friday morning whether it had made a formal approach to the board of AMS.

News of Bridgepoint's interest comes months after Montagu Private Equity abandoned its interest in a bid for the company. Inflexion, another private equity investor, had also been studying a potential offer last year.

AMS Group manufactures surgical brands including LiquiBand and Resorba.

At 1100 GMT, the shares were up 16% at 240.48p.