JTC shares climb as Permira approaches on possible takeover deal

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Private Equity firm Permira Advisers LLP on Friday said it has reached out to Jersey-based professional services company JTC PLC regarding a possible cash offer for the business.

Shares in JTC shot up 15% to 1,128.00 pence on Friday afternoon in London, giving the company a market capitalisation of £1.91 billion.

Permira did not detail the terms of any potential offer.

However, Bloomberg on Friday reported, citing people with knowledge of the matter, that Permira has made a proposal to purchase JTC that values it at around £2.0 billion.

Permira added that there is no certainty of any firm offer being made, nor as to the terms on which any firm offer might be made.

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