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  • BY: Andrew Hore |
  • POSTED: 11/04/2008 |

SciSys says it has held talks with Microgen. 

The IT consultancy says that it was an informal meeting, which did include talks about a possible offer by Microgen. The two companies have collaborated on projects so they know each other.

Microgen’s 12.89% stake was mainly acquired on 3 April at 32p a share but the most recent purchase was at 36.5p a share. That would be the minimum for any bid and SciSys management is likely to want a lot more than that.

SciSys shares rose another 2p to 48p. That is double the price they were prior to the company’s results announcement on the 1 April. On the same day, executive chairman Mike Love acquired 700,000 shares at 21.5p each, taking his stake to 15%. Last November, he bought 1m shares at 46.75p each.

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