Trading software giant Fidessa is in demand, as Ion Group Investment today confirmed it had approached the business with a £1.5bn takeover bid.
Fidessa, which has already recommended that shareholders accept a £1.4bn bid from Swiss rival Temenos, confirmed earlier this month that it had received two approaches at a premium to the Temenos offer. The other was from software firm SS&C.
However Ion said its approach, at £38.70 per share, was not formal and "there can be no certainty that an offer will be made".
Read more: Fidessa trades above Temenos offer price in £1.4bn acquisition after Elliott Capital discloses stake
Ion and SS&C both have until 5pm today to make a firm offer, according to Takeover Panel rules.
Fidessa shares are already trading well above the offer price at £40.55, up 1.38 per cent on yesterday.
Activist investor Elliott has also been building a stake in Fidessa, and the hedge fund has a history of agitating for higher acquisition prices.
Read more: Private equity giants give in to activist investor Elliott and up their bid for drugmaker Stada
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