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Shares in DX (Group) PLC soared after it confirmed receiving a bid approach from US private equity giant, HIG European Capital Partners.
The Slough, England-based parcel delivery company said the possible all cash offer was worth 48.5 pence per share, and followed a series of prior proposals from HIG which were rejected.
DX said it was minded to recommend shareholders accept a bid at this level, should a firm proposal be made.
HIG now has until October 9 to make a firm offer to buy DX.
Shares in DX rose 18% to 43.15 pence in London on Monday.
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