Shares in Dublin-based Alltracel Pharmaceuticals rose 14 per cent in London trading this morning after receiving a preliminary takeover offer.
The company saw its shares rise £0.0125 pence to £0.105 pence, its sharpest gain since January 12th, 2006.
The company is valued at £13.3 million (€17.9 million). In a statement Alltracel said discussions are at "a very early stage".
A report in yesterday's Sunday Timesindicated that the management may be considering buying the company and taking it private.
Alltracel plans to expand in India after the €6.3 million acquisition of dental care company Synpart in August.
