Aviation control system developer Adacel Technologies (ASX:ADA) has announced that an unnamed party has expressed an interest in acquiring the company.
No formal proposal has yet been made, and the board will initiate a strategic review of available alternatives, the company said.
Adacel is also in talks with other potential acquirers, and the board is recommending no action until further guidance can be given.
The company has appointed US firm Jefferies & Company as its financial adviser, and Blake Dawson as a legal adviser.
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