Legal technology company Dye & Durham has confirmed it is in talks for a potential all-cash offer for software and information management firm Idox.
In a statement on the London Stock Exchange, Dye & Durham revealed it has submitted three non-binding indicative proposals of 67p, 70p and 75p per Idox share, payable in cash, on 9 February, 17 February and 18 February 2021 respectively.
The latest proposal values Idox at about £342.8m.
Canaccord Genuity is acting as financial adviser to Dye & Durham. Rothschild & Co is adviding Idox, with Peel Hunt as broker.
Both firms said there is no certainty that a firm offer will be made.
Dye & Durham has offices across the globe, including UK locations in Surrey, Essex, East Anglia, Hertfordshire, Kent, Plymouth, Bristol, Leicestershire, Northamptonshire, Merseyside, Staffordshire, Warwickshire Doncaster, Bradford and London.
Idox's UK bases are in Theale, Manchester, Burton, Hillsborough, Derry and Glasgow.