Northern Ireland-based camera manufacturer Andor Technologies said today the company is in preliminary discussions with a third party in relation to a possible offer for the company.
A company spokeswoman declined to say for how long the talks had been taking place.
Last month Andor management withdrew its support for an existing offer from Thorndale, saying it no longer considered it to be fair and reasonable. Thorndale was set up by senior Andor executives and private equity investors in a move to take the company private.
Thorndale had offered 73 pence per share, or £21.8 million (€27.5 million) for Andor.
In a statement Andor said it was recommending that all shareholders vote against the Thorndale offer at an extraordinary general meeting tomorrow.
Andor has been operating in the North for over 18 years and manufactures high-specification camera equipment for scientific imaging and research.
It employs around 190 people. Shares in Andor were trading at 67.5 pence in London today up from lows of 42.5 pence in August.
The company has a market cap of £18.13 million sterling (€23.3 million).
