LONDON (ShareCast) - IT staffing group Parity advanced after Aim-listed rival Xpertise received a 150p bid from privately-owned QA-IQ. Xpertise recently agreed the acquisiton of Parity's training division for £4.775m, but a condition of the offer from QA-IQ is that this deal is cancelled.
QA-IQ's offer is worth 150p, a 95% premium to yesterday's closing price for Xpertise, and values the group in total at £8.7m including outstanding options.
QA-IQ, which is currently owned as to approximately 65% by funds managed by Englefield Capital and 35% by its management, claims it has already received the support of 46.4% of Xpertise shareholders for its offer.
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