Fidessa receives two takeover offers that trump Temenos

Shares in Fidessa surged on Tuesday after the financial technology group said it has received approaches from two separate third parties who are considering making an offer that trumps the one made by Switzerland's Temenos in February.

Under the terms of Temenos' offer, Fidessa shareholders would receive £36.467 per share, comprising £35.67 in cash and the £0.797 dividend. One of the latest offers made would see its shareholders receive £38.927 per share in cash and dividends, which is a 5% premium to the Temenos bid.

Fidessa said discussions were ongoing but there can be no certainty that a formal bid from either party will be forthcoming or as to the terms of any such offer.

As a result, it has adjourned meetings called for 5 April to approve the Temenos offer "in order to explore in more detail" the possible alternative offers.

Temenos' offer is still valid for now but will need to be approved by 27 April.

At 1430 BST, the shares were up 11.2% to 4,075p.