Scapa Group on Thursday confirmed reports it was looking to buy Tapex, a South Korean manufacturer of tapes for the electronics, consumer and industrial markets.
The tapes and adhesives firm said it has entered into a consortium agreement with private equity investor SkyLake Incuvest for a possible joint acquisition of Tapex.
"Discussions are at an early stage and there is no certainty that a transaction will be completed," Scapa said in a statement.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
"A further announcement will be made as appropriate."
Shares fell 0.70% to 71p at 11:41 Thursday.
Who is the richest person in the world?
The top five richest people in the world have a combined net worth of $825 billion. Who takes the crown for the richest person in the world?
By Vaishali Varu Published
Top 10 stocks with highest growth over past decade - from Nvidia, Microsoft to Netflix, which companies made you the most money?
We reveal the 10 global companies with the biggest returns since 2013. One firm has posted an astonishing 9,870% return, meaning a £1,000 investment would now be worth almost £82,000.
By Ruth Emery Published