US private equity firm TA Associates is reportedly in discussions to acquire Advanced Medical Solutions (AMS), a UK-listed healthcare products company, according to a report by Sky News citing a statement and from the company.
The potential transaction adds to a recent wave of overseas buyout interest in London-listed firms, as private equity groups look to capitalise on comparatively subdued UK equity valuations.
AMS confirmed on Monday that it is engaged in talks with TA Associates regarding a possible takeover. However, the company has not disclosed any financial details related to the approach.
TA Associates is reportedly considering an offer in the region of 280 pence per share, implying a valuation of just over £600m ($809.52m). Under UK takeover regulations, TA Associates must either formally declare a firm intention to proceed with an offer or withdraw by 16 May.
Advanced Medical Solutions, which specialises in wound care and surgical dressing technologies, has previously attracted interest from private equity buyers, including reported approaches from Bridgepoint.
