Stock in Unbound Group PLC (AIM:UBG), the online fashion retailer targeting the over-55s, doubled in value in early exchanges after it said it is considering a bid approach that values the business at £6.8mln.
The 10.25p a share offer from WoolOvers Group represents a 162.5% premium to Monday’s close and is still 28% ahead of the current price of 8p.
Unbound said it would be "minded" to accept the deal if a firm offer is made for the business.
The group has been beset by trading difficulties exacerbated by last summer’s heatwave and Royal Mail strike action.