UK's FD Technologies soars on possible $722 million buyout by private equity firm
(Reuters) -British data and analytics firm FD Technologies said on Wednesday it is in advanced talks with American private equity firm TA Associates over a possible acquisition offer, valuing the firm at 541.6 million pounds ($722.77 million).
Shares of FD Technologies soared 19% to 23 pounds. The possible offer represents a premium of about 27% to the stock's last closing price.
TA Associates had proposed to buy the London-listed firm at 24.50 pounds per share in late March, a price at which the FD Technologies board was ready to recommend to shareholders if a formal offer was tabled, the company added.
The U.S. firm has until June 4 to make a formal offer or walk away, according to UK takeover rules.
($1 = 0.7493 pounds)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Vijay Kishore)
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