Shares in Micro Focus jumped nearly 7 per cent after the troubled software group confirmed it has received a tentative takeover offer.
In a statement to the stock exchange yesterday, Micro Focus admitted that it has been approached by a potential buyer with a ‘very preliminary, non-binding’ offer.
The revelation came less than a week after the Daily Mail market column was the first to report that a cash-rich private equity firm was running the rule over the company.
The FTSE 250 firm, which helps businesses update their old software systems, has been a sitting duck since a profit warning in February wiped a third off its market value.
Its share price came under further pressure earlier this month after its chief executive, Nigel Clifford, resigned after less than a year in the job.
Source:http://www.dailymail.co.uk/money/article-1380908/Software-group-Micro-Focus-soars-amid-rescue-hope.html?ito=feeds-newsxml
