Micro Focus pursued by mystery suitor

Stock exchange announcement prompts speculation over identity of UK software firm's pursuer

UK software vendor Micro Focus has topped off an eventful April by confirming it has received an approach from an unnamed suitor.

Fresh from parting ways with chief executive Nigel Clifford, the application modernisation specialist was forced to issue a statement yesterday, following a spike in its share price and press speculation.

The Daily Mail claimed last week that a cash-rich private equity house was eyeing up the FTSE 250 firm, whose share price has struggled since a profit warning in February.

IBM and Microsoft have been put forward as other possible suitors.

In a stock exchange announcement, Micro Focus said it had received a "very preliminary, non-binding approach in relation to a possible offer for the company".

"The Board is currently considering its response to the approach," continued the statement. "There is no certainty that any formal offer for the company will be forthcoming, nor as to the price at which any offer might be made."