Lombard Risk Gets Takeover Approach From Wolters Kluwer Unit

Lombard Risk Management Plc (LRM), a U.K. developer of software for banks such as Societe Generale SA, said it’s in talks to be bought by a unit of Dutch publisher Wolters Kluwer NV. (WKL)

“While at this point in time the board thinks it unlikely that an acceptable offer will be forthcoming, discussions are continuing and a further announcement will be made as appropriate,” London-based Lombard said in a statement today.

Wolters Kluwer’s FRS Global division made the approach, Lombard said. Lauren Dearmer, a spokeswoman for the bidder, didn’t return a telephone call seeking comment.

Lombard said in May revenue in the 12 months through March jumped 32 percent to 11.8 million pounds from the year-earlier period. The company swung into a pretax profit of 600,000 pounds from a 1.3 million-pound loss.

The shares climbed 17 percent to 8.63 pence as of 3:07 p.m. in London trading, their highest since June 2007.

To contact the reporter on this story: Ying Diao in London at dying6@bloomberg.net.

To contact the editor responsible for this story: Edward Evans at eevans2@bloomberg.net.

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