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(Sharecast News) - Advanced Medical Solutions surged on Friday following a report that private equity firm Bridgepoint is exploring an offer for the company that could value it at between 550m and 600m.
According to banking sources cited by Sky News, Bridgepoint is examining a bid valuing AMS at between 270p and 280p per share, a premium of more than 30% to its current share price.
Sky said it was unclear on Friday morning whether it had made a formal approach to the board of AMS.
News of Bridgepoint's interest comes months after Montagu Private Equity abandoned its interest in a bid for the company. Inflexion, another private equity investor, had also been studying a potential offer last year.
AMS Group manufactures surgical brands including LiquiBand and Resorba.
At 1100 GMT, the shares were up 16% at 240.48p.
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