Shares in delivery firm DX (Group) were up 2.2% in early trade following an update on its putative private equity take-out in a deal worth around £293 million.
Two major shareholders have confirmed they will back the acquisition by HIG European Capital if the transaction is unanimously waved through.
A deadline for this to happen has been set for November 6.
If approved, due diligence would then take place before HIG then formally ratifies the 48.5p a share offer.
In early trade, the stock was changing hands for 45p.