Employee benefits and financial planning firm Jelf Group has confirmed it is in talks with insurance broker Marsh over a potential takeover.
In a statement on the London Stock Exchange this morning, Jelf says: “Discussions, which are ongoing, are at an early stage and there can be no certainty that any offer will ultimately be made for Jelf or as to the terms of any such offer.”
Marsh has until 5pm on 16 September to announce whether it plans make an offer for Jelf.
Jelf is being advised by Fenchurch Advisory Partners in relation to the potential transaction.
The news has seen Jelf Group’s stock price spike since trading opened this morning, with shares climbing from a close of 207p yesterday to almost 250p as of 10am.
A Marsh spokesman declined to comment.