Decontamination device-maker Bioquell (BQE) advances 6.8% to 146p on news that it has effectively put itself up for sale.

The company has announced a strategic review of what remains of its biological contamination control business.

A merger, joint venture or takeover could be on the cards as Bioquell believes it may struggle to win market share against some of the industry’s larger players.

The news follows the sale of its testing services business TRaC for £44.5 million in cash in March. The deal was made in a bid to boost shareholder value.

Shares shot up 32.9% to 109p as the market welcomed the sale.

The board has decided to defer returning the £43.9 million proceeds from selling TRaC to shareholders until after the strategic review has been completed.

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