UK-based software house Micro Focus enjoyed a share-price boost after confirming that a number of private equity firms have designs on acquiring it.
The Newbury-headquartered firm issued a statement to the markets on Friday claiming that it has "received a number of preliminary, non-binding approaches which it has chosen to explore". Among these were offers from Bain Capital and Advent International.
"At this stage there can be no certainty that any offer for the company will be forthcoming nor as to the price at which any offer might be made," added the statement.
Shares in Micro Focus quickly leapt eight per cent to about 398p, though they have now dropped back somewhat to about 390p. The firm's current market capitalisation is £815m and reports have suggested a buyout could take place for somewhere in the region of 450p.
During its 2010 fiscal year, Micro Focus banked operating profit of £65.3m on sales of £267.9m.
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