Shares in Mouchel soared by 33% today as VT Group - formerly shipbuilder Vosper Thornycroft - is understood to be interested in acquiring the consultant.
VT Group are understood to have made two approaches to acquire 100% of shares in the consultant.
Mouchel’s board has so far rejected both offers, which it says “substantially undervalues” the company.
VT confirmed that: “It has made two approaches to Mouchel over a four week period with a view to initiating a constructive dialogue.
“To date, Mouchel has refused to enter into any form of discussions. VT is continuing to review its options,” read a statement.
Press reports over the weekend suggest VT Group offered 250p per share. Shares in Mouchel rose more than 30% to 253p in early trading but have since settled back to 235p - a 24% increase.