Life sciences e-commerce group Abcam revealed that it had approached gene-editing company Horizon Discovery with a £270m takeover offer that was rejected as too low.

Abcam said it made the offer, of 181p per Horizon Discovery share, on 19 April and that it had been rejected on Wednesday.

The offer price represented a 26% premium to Horizon Discovery's closing share price on Tuesday.

'Abcam is seeking to engage with Horizon Discovery in a constructive dialogue and is announcing the proposal as a means to encourage and further that process,' the company said.

At 2:17pm: (LON:ABC) Abcam PLC share price was +24p at 1238p