Network International receives 387p a share takeover proposal

Payments firm Network International said on Monday that it has received a non-binding takeover proposal from a consortium of CVC and Francisco Partners about a cash offer of 387p a share.

This follows a series of prior proposals that were rejected.

Network said that having "carefully evaluated" the proposal with its financial advisers, it has concluded that it would be minded to recommend it should a firm intention to make an offer be announced.

"As such, the board has agreed to provide the consortium with access to confirmatory due diligence," it said.