TP Group PLC (AIM:TPG) (AIM:TPG) shares soared on Tuesday as the engineering group confirmed speculation that it has received a takeover approach from Science Group PLC (AIM:SAG) (AIM:SAG).
The company said that the approach is preliminary and there was no certainty that an offer would be made. As a result, the firm encouraged shareholders to take “no action at this time”.
The news sent shares in TP Group 28% higher at 5p in early deals on Tuesday, while Science Group dropped 3.1% to 431.2p.