Aviation control system developer Adacel Technologies (ASX:ADA) has announced it has entered into exclusive confidential discussions with a party looking to acquire the company.
Adacel said the discussion period will last for 14 days, and that an announcement on the outcome will be made in due course.
The company said there is no certainty that any formal offer will be made.
ADA shares climbed 4.8% to $0.650 following the announcement.
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