Cinven finally scents deal with Spice

This board recommendation would pave the way for a buyout that will value the listed group at £247m. Cinven has been pursuing the business since May, when it made a 56p per share offer. The investor subsequently made two increased offers, both of which were rejected, before reaching the current level. 

Reports suggest Cinven has seen off another potential suitor - also believed to be a financial bidder.

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