Timeweave, which owns a 50 per cent stake in racecourse TV Channel TurfTV, has received a takeover offer valuing the firm at 50m pounds.
The offer from Mayfair Capital, for 22p per share, was 14% above the share price at the close on Wednesday, the shares have now caught up and are trading at 22.25p.
In a statement today Timeweave says it is "considering its response".
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Despite Thursday's sharp rise, the stock has still fallen 14.4% in the last 12 months.
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