- Asset management services group Sanne said it was in advanced talks about a possible £1.49 billion takeover of the company by private equity group Apex.

The companies were discussing a possible bid for Sanne at 920p per share, which would trump an existing offer for Sanne from Cinven of 875p.

Sanne said Apex's possible offer was high enough for it to recommend, having considered it with its advisors.

The possible offer was subject to a limited number of pre-conditions, including the satisfactory completion of confirmatory due diligence.

'Apex is well advanced in its due diligence review and is working closely with Sanne to complete the review as quickly as possible,' Sanne said.

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