Scottish temporary power specialist Aggreko has received a bid approach pitched at 880p a share from private equity groups.

The level of the bid approach values the company at about £2.25 billion.

Shares in Glasgow-based Aggreko surged 209p or 32.9 per cent to 844p on the news.

Aggreko said: “TDR Capital LLP and I Squared Capital (US) LLC and its affiliates (the "consortium") have made a series of proposals to the Group which has culminated in the Group entering into discussions with the consortium in relation to a possible cash offer for Aggreko at a price of 880 pence per Aggreko ordinary share to be adjusted for any dividend declared or paid (the "proposal"). Based on Aggreko's closing share price yesterday, the proposal would represent a 39% premium.”

It added: “Discussions between Aggreko and the consortium are ongoing. There can be no certainty either that an offer will be made or as to the terms on which any offer might be made. This announcement has been made without the consent of the consortium. A further announcement will be made if and when appropriate.”