Shares in financial services group IFG jumped today after it confirmed it has received an approach which may or may not lead to an offer to buy the company.
In a brief statement, the company said that the approach is preliminary in nature and is subject to a number of conditions.
'No assurances can be given that a formal offer will be forthcoming or that any transaction will occur,' the statement adds.
The company reported operating profits of €4.4m for 2010 in March. Revenues for the year rose to €120.6m from €93.3m.
During the year the company completed a deal to buy UK-based James Hay Holdings, which made it the biggest provider of self invested personal pensions in the UK.
IFG shares closed up 16.7% at €1.75 in Dublin.
