Lombard Risk Management admits that it has been approached by FRSGlobal, a subsidiary of Dutch publisher Wolters Kluwer, but it says that an agreed bid appears unlikely.
Discussions are continuing but Lombard does not believe that the potential bidder will offer enough for the business for the two sides to come to an agreement. There have been rumours that a bid could be as high as 20p a share, which would value Lombard at £40m.
At 8.62p a share, up 1.25p, Lombard is valued at £17.9m. This is a large discount to the rumoured bid level.
Lombard moved into profit in the year to March 2011. It had consistently lost money in recent years.
Lombard has announced a software deal with Société Générale that will be worth more than £2m in the first two years. The deal is for COLLINE collateral management software.
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