(Reuters) Power plant supplier APR Energy Plc said it was in talks to be bought out by a consortium that includes its largest shareholder, Fairfax Financial Holdings Ltd.
Shares of the company, which rents out turbines and generators to cover electricity shortfalls, rose as much as 66 percent on Monday.
Jacksonville, Florida-based APR Energy had a market value of about 88 million pounds ($134 million) based on the roughly 94 million shares it had outstanding as of Friday’s close.
APR said there was no certainty that any firm offer would be made by the consortium, which also includes ACON Investments LLC and Albright Capital Management LLC.
Fairfax, ACON and Albright were not immediately available for comment outside regular business hours in North America.
APR’s stock has fallen about 83 percent in the past year. The company has been hit by the termination of a key contract in Libya and increasing political tensions in some of the emerging markets in which it operates.
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