22 November 2017
visit www.solutions.lexisnexis.com

Plus Markets says considering several takeover proposals

17 April 2012  |  4350 views  |  0 Buy Road sign

UK exchange operator Plus Markets says it has had "a number of indicative proposals" since putting itself up for sale in February.

The struggling company - which started life as a small cap market operator - has had a tumultuous past two years, culminating in the November departure of chairman Giles Vardy following a shareholder revolt.

In early February it confirmed the commencement of a formal sale process, with a deadline of 30 March for indicative proposals from interested parties.

It claims to have received a several approaches and potential offerors have now been provided with access to management and a detailed data room, with the Plus board hopeful it will be able to provide some news in the next few weeks.

The decision to sell up comes after two years of aggressive cost cutting that slashed headcount and technology expenditure under Vardy, before he was ousted, in a bid to make the business profitable.

Only in September it took a new route, establishing a technology arm, Plus Trading Solutions, to sell white-labelled matching engines to European investment banks and brokers, enlisting former Chi-X COO Hirander Misra as an advisor.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Plus Markets puts itself up for sale

Plus Markets puts itself up for sale

03 February 2012  |  5450 views  |  0 comments
Vardy resigns from Plus Markets

Vardy resigns from Plus Markets

10 November 2011  |  5202 views  |  0 comments
Plus Markets faces shareholder revolt

Plus Markets faces shareholder revolt

24 October 2011  |  5045 views  |  0 comments
Plus launches technology arm; calls on Misra for advice

Plus launches technology arm; calls on Misra for advice

07 September 2011  |  7563 views  |  0 comments
Brickles exits for good as Plus takes axe to staff numbers and tech

Brickles exits for good as Plus takes axe to staff numbers and tech

16 September 2010  |  9623 views  |  0 comments
Plus signs with Algo Technologies for systems overhaul

Plus signs with Algo Technologies for systems overhaul

25 August 2010  |  8747 views  |  0 comments
Plus gets £5.5m Middle East investment

Plus gets £5.5m Middle East investment

07 September 2009  |  5513 views  |  0 comments
Plus and London Stock Exchange settle AIM dispute

Plus and London Stock Exchange settle AIM dispute

29 May 2009  |  7550 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit https://www.niceactimize.comvisit www.vasco.com

Top topics

Most viewed Most shared
Ripple boss predicts central bank adoption of blockchainRipple boss predicts central bank adoption...
19976 views comments | 31 tweets | 33 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
11970 views comments | 15 tweets | 42 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
9698 views comments | 26 tweets | 38 linkedin
Barclays warns of unprecedented online fraud this ChristmasBarclays warns of unprecedented online fra...
9514 views comments | 16 tweets | 33 linkedin
ING brings data privacy to blockchain transactionsING brings data privacy to blockchain tran...
7040 views comments | 22 tweets | 35 linkedin

Featured job

Find your next job