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By | John Oates 23rd April 2010 10:07

Morse confirms advanced takeover talks

No mixed signals there

Morse has confirmed to the London Stock Exchange that it is in talks which could lead to the sale of the reseller.

The reseller and integrator confirmed it was in advanced talks but warned: "Shareholders should be aware that there is no certainty that an offer will be made."

The deal would give Morse investors 51p for every share owned - valuing the whole firm at £66m.

According to channel mag Microscope the buyer is 2e2. The company has reportedly has told its investors that their holdings will be diluted because the firm needs to issue more shares in order to fund a purchase.

This would see 2e2 raise about £90m - enough to pay for Morse and leave working capital available. The deal could also see privately-owned 2e2 take over Morse's share listing. ®

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