Pollen Street Plc (LSE:POLN) shares rose more than 16% on Wednesday after the asset manager confirmed it was holding preliminary discussions with potential strategic partners as part of a review that could result in a take-private transaction.
The London-listed company said it had started a strategic review to assess options for the business following recent media speculation.
The review includes consideration of a potential take-private deal, although Pollen Street stressed that discussions remain at an early stage.
Preliminary Discussions Under Way
Pollen Street said it was in talks with a limited number of third parties to determine their suitability as potential strategic partners and assess whether they may be interested in making an offer for the company.
No potential bidders were identified in the announcement.
The company said there was no certainty that the discussions would result in an offer or, if an offer were made, what its terms would be.
Pollen Street also cautioned that there was no certainty it would proceed with any other transaction being considered as part of the strategic review.
Pollen Street Enters Offer Period
The company has entered an “offer period” under the UK Takeover Code as a result of the discussions.
Pollen Street said the Panel Executive had granted a dispensation from requirements to identify potential offerors in announcements unless those parties had been specifically named in market speculation.
The strategic review and discussions with potential partners remain ongoing, with no transaction announced at this stage.
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