The print plc announced on Friday (31 March) that if the talks resulted in an offer being made, it would be for 122.5p per share for the entire issued and to be issued share capital of the company. But it stressed in its statement that there was "no certainty that the talks will result in an offer".
Its shares reached 117.5p at close of trading on Friday, an increase of almost 12%. The news follows hot on the heels of the commercial and book printing group's 2005 results, which showed pre-tax profits up 8% at 3.9m on sales down 4% at 41m.
Fulmar is the second print plc to be approached in the space of a week. Wyndeham Press Group announced on Friday 24 March that Icelandic investor Dagsbrun had made a bid of 155p per share valuing the company at 80.6m. Wyndeham's board has approved the bid and is now seeking shareholder approval, a process which it expects to complete by 14 April.
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