Glantus Holdings PLC (AIM:GLAN) shares surged on July 5, 2023, after it confirmed that it is in discussions over its possible takeover. Glantus confirmed that it is in discussions with Accel-KKR LLC and its investee company Basware Corp. in relation to a possible cash offer for its entire share capital.

It is now considered to be in an "offer period". In accordance with Irish Takeover Rules, Accel-KKR must either announce a firm intention to make an offer for the company by August 16. This deadline can be extended with the consent of the Irish Takeover Panel, at the request of the company.

"There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made," Glantus added.