Property services consultant Erinaceous has received preliminary takeover approaches that may lead to an offer, it said this week.
Share price at the consultant rose 18.9% to 253.5p after the announcement on Monday, going up to a high of 261.25p on Tuesday.
It is rumoured that private equity group 3i is bidding; 3i is also believed to be considering a takeover of architect Foster + Partners.
The private equity group is thought to be considering a management buyout involving Neil Bellis, the chief executive of Erinaceous, valuing the company at about £350m. It is also possible that Erinaceous could become the target of a rival consultant.
Last year the company was interviewed by the Serious Fraud Office after irregularities were uncovered at Dunlop Haywards, a subsidiary. Erinaceous has set aside £4.4m to cover the cost.
• A senior Currie & Brown director has joined WSP. Jim Ratliff, who was operations director UK south, has joined WSP as lead director of its management consultants division.
No comments yet