Collagen Solutions PLC (LON:COS) has revealed it is in discussions with a “number of parties” as it confirmed it will conduct a “formal review of its strategic options”.
“These options include, but are not limited to, the potential sale of the company or the sale of one or more of the company's assets,” the group added in a statement.
The company said it has appointed Goodbody Stockbroker as joint financial adviser alongside England and Company and is inviting would-be buyers to lodge indicative offers by 5pm on May 15.
Collagen cautioned there was no guarantee a bid or bids would be made. And it added: “The board reserves the right to alter any aspect of the process as outlined above or to terminate it at any time and will make further announcements when appropriate.
“[It] reserves the right to reject any approach or terminate discussions with any interested party or participant at any time.”