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Tax Systems Plc

Tax Systems receives £85mln private equity bid approach

The technology group said it had received an expression of interest from Bowmark Capital

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Tax Systems said there was no certainty a definitive offer would be tabled

Tax Systems (LON:TAX) said it is considering an £85mln bid approach from private equity firm Bowmark Capital.

The latter has tabled a deal of 110p a share, all in cash.

On Wednesday night the shares, up from a 2019 low of 86.5pc and losed at 100.5p.

MXC Capital, which holds just over 25% of Tax Systems, has given its backing to the putative Bowmark deal.

Tax Systems in its announcement cautioned: “There can be no certainty that an offer will be made by Bowmark for Tax Systems, nor as to the terms on which any such offer may be made.”

Quick facts: Tax Systems Plc

Price: £0.00

Market: AIM
Market Cap: £0.00
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