- Patent law firm Murgitroyd said it was in advanced discussions regarding a potential takeover of the company by Sovereign Capital Partners.

Murgitroyd said that Sovereign Capital had made an indicative proposal of 675p cash per share.

The proposal assumed that the company's recently announced final dividend of 15p per share would be paid to shareholders.

'The board notes that the proposal is non-binding and accordingly there can be no assurances that an offer will ultimately be made for the company,' Murgitroyd said.

The company revealed the talks while noting a rise in its share price.

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