3i investments has offered £486m for the defence maintenance specialist

Maintenance specialist Enterprise has confirmed that it is in talks with 3i Investments over a potential takeover offer by 3i.

In a statement released today, Enterprise said it was in talks over an offer valued at 605 pence per share, or £486m. The company said there was no guarantee that 3i would submit a formal offer.

The statement said: “The making of an offer is conditional on, inter alia, agreement being reached on certain terms, satisfactory due diligence, securing financing for the acquisition and a formal recommendation by the Independent Committee [of non-executive directors of Enterprise].

Shares rose 9% on the news, and stood at 581p this afternoon, an increase of 50p.