DRS Data ticks higher after offer from exam marker AQA Education

AQA Education, the organisation that is responsible for setting and marking around half of A-Level and GSCE papers each year, has made a takeover approach for exam and polling data group DRS Data & Research.

After a surge in its shares from 8p to 13p since last week, FTSE Fledgling-listed DRS said it had "received an approach which may or may not lead to the acquisition of the company".

It stressed that there was no certainty the deal will be completed or of the timing or exact terms of any such acquisition.

AQA, which is an independent education charity and the largest provider of academic qualifications taught in UK schools and colleges, has four weeks to make a firm offer or walk away, with the deadline set for 1700 BST on 16 August.

DRS said it will keep the shareholders informed if there are any material developments but in the meantime it urged them to take no action.

Shares in DRS reached a peak of 16.88p on Tuesday morning, their highest level since mid-2014, before easing off to 14.43p for a 23% rise from their last close.