LONDON (ShareCast) - (ShareCast News) - Responding to media speculation, Silver Falcon, the buy-and-build financial technology company, confirmed it was in the midst of takeover discussions with a possible target.


Silver Falcon, which floated on London's main board in early November, said discussions were at an early stage and dismissed much of the recent press speculation was "factually incorrect and should not be relied upon".

Media reports last week speculated that Silver Falcon was working on a deal valued at roughly £15-20m and likely to occur within days.

The company was set up by merchant banker Geoffrey Dart, a former director of London & Boston, Energy Technique and Hayward Tyler, financier Peter Redmond and the venture capitalist Adrian Beeston, as a "special purpose acquisition company" to acquire businesses in the technology-focused end of the financial services market.

In its after-hours statement on Monday, the company stressed that there was no certainty that any such agreements will be made.

"Whilst the company has had initial discussions with a possible target concerning a possible transaction, all such discussions are at a preliminary stage," it said.

Up 15% on Monday to 4.6p, shares in the company, of which 4.3m were placed at 3p on listing, were more than 50% ahead of their issue price.

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