Shares in Raymarine rallied after the marine electronics group confirmed that it has received a further approach from a third party.

The group said the approach may or may not lead to an offer being made for the entire issued share capital of Raymarine at about 3.6 pence per share.

The potential offer is at an early stage and is subject to, amongst other things, the completion of satisfactory due diligence, it said.

'There can be no certainty that the potential offer will be made even if due diligence is completed satisfactorily, nor as to the terms on which the potential offer might be made,' it added.

On 18 December, the group announced it was entering into exclusive discussions with a single party over the possible sale of the business and assets of Raymarine.

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