(Alliance News) - Equals Group PLC on Wednesday confirmed an ongoing review of its strategic options, saying it has contacted potential counterparties and has not ruled out a future acquisition offer.

The London-based fintech payments group, focused on the Enterprise and SME marketplaces, said it was responding to "recent market speculation".

Equals said it has contacted a limited number of other companies, such as Madison Dearborn Partners LLC and Fleetcor Europe Ltd, to assess potential proposals that can "deliver greater value to Equals' shareholders than pursuing a standalone independent strategy." This could theoretically include an offer for Equals's entire share capital.

Fleetcor and Madison Dearborn now have until November 29 to confirm whether or not they intend to make offers for Equals.

However, Equals said trading remains in line with board expectations, and "remains confident in [its] long-term prospects". It said it is in a good position to create significant value if it remains an independent company.

Shares in Equals were up 8.3% at 111.00 pence on Wednesday afternoon in London.

By Emma Curzon, Alliance News reporter

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