Morse confirms it is in 'advanced talks'

Firm's announcement to the Stock Exchange reveals it 'may or may not' lead to an offer

Morse building: Integrator has confirmed it is in advanced talks

Integrator Morse has confirmed that it is in advanced talks with an undisclosed party which has caused its share price to leap overnight.

According to a statement filed with the London Stock Exchange, the offer price is equivalent to 51 pence per share.

"Shareholders should be aware that there is no certainty that an offer will be made," the statement said.

Last year Morse was the subject of a takeover discussion with another unnamed party, but this was rejected because the offer 'significantly undervalued the group'.

CRN has heard various rumours of Morse being linked to several firms over the past few weeks, with 2e2 and Xploite the favourites.

More to follow.