FD Technologies shares rise as would recommend possible takeover offer

FD Technologies PLC on Wednesday confirmed it was in advanced discussions with TA Associates Management LP regarding a possible takeover offer.

The County Down, Northern Ireland-based company provides data analytics and consulting services to finance, technology and energy institutions.

TA Associates is a Boston, Massachusetts-based private equity firm which has raised about $65 billion in capital since it was founded in 1968.

TA has until June 4 to announce a firm intention to make an offer for FD Tech, or to announce that it does not intend to make an offer.

FD Tech said a possible takeover offer by TA would be for around £24.50 per FD Tech share, which FD said it would be ‘minded to recommend’ to its shareholders.

FD Tech shares jumped 22% to 2,350.00 pence each on late Wednesday morning in London.

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