Private equity groups TDR Capital and I Squared Capital acting as a consortium have made a series of proposals adding up to 880p, the mobile power generator specialist said in a statement.
Any deal will be adjusted for any dividend declared or paid, said Aggreko, which added that the proposal would represent a 39% premium to the close yesterday.
Discussions are ongoing, the FTSE 250 group said, and might yet result in no offer being made, it added.
TDR recently helped bankroll the £6.8bn acquisition of Asda from Walmart and this latest approaching is part of increasing M&A activity from private equity groups.
Pub group Marston’s has just rejected an approach from private equity Platinum Equity while earlier today Microsoft founder Bill Gates joined forces with Blackstone and fund manager GIP to acquire Signature Aviation for £3.5bn.
Aggreko has a US$315mln contract to power Tokyo’s Olympic games and last month said trading in 2020 had been ahead of expectations with profits to be slightly above its £80-100mln range.
For 2021, the group forecast profits would be in a range of £170-190mln.
Shares rose 37%. to 869p, valuing the group at £2.2bn.