Firms eye up Ardana takeover

BIOTECH company Ardana has said it has had a number of approaches from firms interested in a takeover.

The Edinburgh-based firm, which specialises in improving human reproductive health, said last month that it wanted to either sell itself or secure a merger.

The company, which employs around 30 staff, said it has now received a number of approaches that "may or may not" lead to an offer for the company. In a statement, the firm said: "The board is progressing these licensing discussions in parallel with the process, to ensure that the company is in a position to maximise shareholder value at the appropriate time.

"However, the board will only pursue a licensing transaction if it does not negatively affect the value of the company in the view of potential acquirers."