Ambrian Capital PLC and Panmure Gordon & Co PLC confirmed they have been in offer talks regarding a possible transaction between the companies. In a joint statement issued in response to recent press speculation, the groups said the discussions they had may lead either to an offer by Ambrian to acquire the entire share capital of Panmure Gordon or to Panmure Gordon making an offer to acquire Ambrian.
The boards are evaluating the position with their respective advisers and will make a further announcement in due course. Discussions are at a 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 said.