Advanced Medical Solutions (AMS) has declined to accept a proposal of merger put forward by Consort Medical.

AMS is a wound care specialist and provides its supplies across Europe and the US.

It was the stock market report which suggested that AMS was approached for a possible merger with a verbal indication for a possible offer price. But the offer was gracefully rejected.

AMS also said that it has not received any revised offer or a formal written offer, which means that there is a total stand-off for Consort.

Meanwhile, there is news that Consort is also considering an offer for the Winsford Company.

Talking about the whole merger talk, a suitor said, "Consort Medical notes the recent movement in Advanced Medical Solutions' share price. Consort confirms that it has made an approach which may or may not lead to an offer being made for AMS."

After the news, the prices of AIM-listed Advanced Medical Solutions' shares shot up by 21 per cent or 7.2p to 41p.

Currently, AMS has a market capitalization of nearly £60m, before settling at 38.2p, again up by 13 per cent.