Management software and services provider, Bravura Solutions, has confirmed it is in takeover talks and had received several bids.
In a statement to the ASX (ASX:BVA) the company said it had received several indicative bids to acquire all of the issued capital of Bravura by a scheme of arrangement.
The announcement follows the appointment of Macquarie Capital Advisers on December 10 last year, to help assist the company with assessing some of the unsolicited proposals.
“The indicative bids received are preliminary and highly conditional,” Bravura said in the statement. “Each of the bids are indicative, non-binding, incomplete and subject to due diligence and a number of other conditions.
“There is no certainty that any of the indicative bids will result in a binding offer or proposal capable of implementation or being put to shareholders at any particular price.”
The board will not make a further announcement unless a binding proposal is received that is capable of being put to shareholders.