Montagu Private Equity considering bid for Advanced Medical Solutions

(Sharecast News) - Advanced Medical Solutions confirmed in a regulatory update on Thursday that Montagu Private Equity was considering a possible offer for the company, following recent press speculation. The AIM-traded firm said Montagu, acting as adviser to affiliated funds, had stated that any offer, if made, was likely to be solely in cash, although it reserved the right to vary the form of consideration.

It cautioned that there was no certainty that a formal offer would be made.

Under the Takeover Code, Montagu had until 1700 BST on 24 April to announce a firm intention to make an offer or to confirm that it did not intend to proceed, subject to any extension granted by the Takeover Panel.

Advanced Medical Solutions said a further announcement would be made as and when appropriate.

At 1516 GMT, shares in Advanced Medical Solutions Group were up 14.8% at 228p.

Reporting by Josh White for Sharecast.com.