Science in Sport jumps on takeover offer

(Sharecast News) - Science in Sport surged on Wednesday as it confirmed it has received a takeover proposal from investment firm db-capital at 34p a share. In a statement in response to recent "rumour and speculations", the company said an independent committee of the board had carefully evaluated the indicative terms of the possible offer and would be "minded to recommend" it should a firm intention to make an offer be announced.

"Discussions are at an advanced stage," it said. "However, there can be no certainty that a firm offer will be made, nor as to the terms on which any offer might be made."

Science in Sport said a further announcement will be made in due course as appropriate.

Under UK takeover rules, bd-capital has until the end of play on 14 May to either announce a firm intention to make an offer or walk away.

At 1450 BST, the shares were up 12.7% at 31p.