Just Retirement shares have soared over 50% this morning after the company confirmed it is in preliminary talks over a potential offer.
The Times yesterday reported the pensions specialist had been put up for sale, at nearly double its current market value of £159m.
Just Retirement, which is 52% owned by venture-capital group Langholm, says it has received expressions of interest which could ultimately result in a takeover.
“Discussions are at a very preliminary stage and there can be no assurances that an offer will be made, nor as to the terms on which any offer may be made,” the statement reads.
Just Retirement floated in November 2006 at 148p a share, but had slumped to 49p at close on Friday. At 11:10am this morning, the firm was 26p higher, or 53%, to 75p.
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