Shares in credit information provider Veda Group have soared on news of a $2.28 billion takeover proposal from Equifax Inc.
Veda says the proposal to acquire all of its shares at $2.70 each is indicative and non-binding.
Veda's board said it will evaluate the proposal and will update shareholders and the market in due course.
"The board notes that there is no certainty that the expression of interest will result in an offer for Veda, what the terms of any such offer would be, or whether there will be a recommendation by the board," Veda said on Friday.
"Irrespective of whether the expression of interest proceeds to an offer, the board considers that Veda has a very attractive future and that the company is well positioned to continue to deliver strong growth."
Shares in Veda soared in the wake of the news, closing 62.5 cents, or 31.33 per cent, higher at $2.62.
Veda is a data analytics company and a provider of credit information and analysis in Australia and New Zealand.
Veda holds information on around 20 million credit-active people and 5.7 million commercial entities in Australia and New Zealand.
Equifax Inc is a US-based credit information provider, with operations in the US and 18 other countries but not in Australia.
Veda reported an annual net profit of $77.9 million in the 2014/15 financial year, up 248 per cent on the net profit of $22.4 million a year earlier.
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