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Morgan Stanley Infrastructure Inc. has confirmed it is considering making an offer for waste management firm Augean Plc (LON:AUG).
The US investment bank said there is no certainty the discussions will end up in a proposal nor did specify on which terms it may be.
READ: Vectura deal suggests private equity takeover pipeline remains healthy
The AIM-listed group has a market capitalisation of £299mln based on Wednesday’s closing price.
The group was founded in 2004 and has seen shares climbing 45% in the year to date.
If it goes ahead, it would be yet another UK public company ending in private hands, with Spire Healthcare PLC (LON:SPI) and Vectura Group PLC (LON:VEC) being the latest ones to recommend takeovers earlier this week.
Private equity-backed mergers & acquisitions since the start of last year have reached £37bn, based on data from Dealogic shared with the Daily Mail, for a total of 124 deals.
Augean climbed 19% to 296.1p on Thursday morning.
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