Micro Focus confirms bid approaches

Just to keep readers up-to-date, Micro Focus has this afternoon confirmed that it has received approaches from both Bain Capital and Advent Capital "which it has chosen to explore". For background, subscribers can search the archive for our many posts on Micro Focus leading up to this.

As you might expect, Micro Focus shares have continued their upward trend as a deal becomes more and more likely. Up another 8% this afternoon to 399p.