The price of shares in Mouchel have continued to rise on the back of takeover speculation, increasing in value by more than £1 per share over the past week.
Shares in the consultant had hit a low of 151p on December 9, and have since soared, rising steadily to a price of 254p in trading today.
VT Group had offered the Mouchel board a price of 260p per share to take the company over earlier this week.
However, the offer was rejected and shares in the company have continued to rise.
“The board of VT believes that a combination of VT and Mouchel represents a strategically compelling proposition. The enlarged group would continue to have a strong focus on the public sector and its increased scale and enhanced capabilities would provide greater access to larger contract opportunities.
“The increased customer base and wider range of services would firmly establish the enlarged group as a leading provider of services to both central and local government agencies and to regulated industries,” read a VT Group statement earlier in the week.