LV= is in talks with Hornbuckle Mitchell over a possible takeover deal.
The life and pensions company is one of four firms in final stage discussions with the Sipp and SSAS provider.
Negotiations with all four parties are expected to be concluded in four to six weeks.
Hornbuckle Mitchell managing director David White (pictured) says: “A number of parties have put interesting offers on the table, but the board is quite a long way off making a final decision.
“We have narrowed it down to four parties, although I cannot confirm who those parties are at this stage.”
In June, Money Marketing revealed Hornbuckle Mitchell was searching for a “strategic partner” to inject capital into the business amid concerns increased FSA solvency requirements could stall the company’s growth plans.