Consultant’s shares jump 18% after revealing it has been approached with a possible offer

Public sector services consultant Tribal has confirmed it has received an approach regarding a possible offer for the company.

Tribal Group shares jumped 18% in early trading after the announcement.

The group, which owns social housing consultancy firm Hacas, said there was “no certainty” an offer for the company would be made.

Shares in Tribal have lost almost half of their value since October after it warned earnings would be below expectations because of the impact of public spending cuts.

Tribal sold Nightingale Architects for £13m to the UK subsidiary of Canadian design group IBI in June this year.

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