Hedge fund services provider GlobeOp Financial Services is in talks with private equity firms Advent International and TPG Capital about possible takeover offers.
Responding to press speculation that it has put itself up for sale for £300 million, the London-listed firm has issued a statement confirming preliminary talks with the two potential suitors and the formation of an independent committee to carry out the discussions.
The talks will be part of a review of strategic options set up by the board, and advised by Evercore Partners, with the company feeling that, considering its "continued strong growth", its share price "significantly undervalues its future prospects".
Ed Nicoll, chairman, GlobeOp, says: "GlobeOp is performing extremely well and we are confident of continuing the strong growth of the business under our current ownership structure. Nevertheless, the Board felt it right to explore options which could enhance the interests of clients, employees and shareholders."
Shares in the company have soared 94 pence, or 32.08%, to 387 pence per share, in Friday trading.