UK's Sopheon rises on $139.7 mln possible buyout offer

Sopheon

31/10/2023 13:26

** Shares of British software firm Sopheon  SPHN.L  jump
88.8% to 925 pence, set for best day ever 
    ** Co announces possible offer of 10 pounds per share from
U.S.-based software firm Wellspring, which values it at 114.9
mln pounds ($139.66 mln)
    ** SPHN says it has "reached an agreement in principle on
the key terms of the possible cash offer" and that discussions
are advanced
    ** SPHN intends to recommend shareholders to vote in favour
of deal, if firm offer made
    ** Stock up over 55% YTD 

($1 = 0.8227 pounds)
    

 (Reporting by Eva Mathews in Bengaluru)
 ((Eva.Mathews@thomsonreuters.com;))