Microgen considers a bid for Scisys

On Friday Microgen issued the following statement:

"Microgen notes the recent rise in the share price of Scisys and the associated press speculation. Microgen confirms that on 3 April 2008, it acquired 3,206,081 shares in Scisys at 32 pence per share and on 7 April 2008 acquired an additional 464,605 shares at 36.5 pence per share. In totaltherefore Microgen holds 3,670,686 shares representing approximately 12.89% ofthe issued share capital of Scisys.Microgen and Scisys have collaborated in a number of business areas and this operational relationship continues. An informal meeting has been held betweenMicrogen and Scisys and the Board of Microgen continues to consider its options,which may or may not include an offer for Scisys".

Scisys shares have more than doubled – to 47p - this month so far. To see my previous post on this Click here.