Commercial energy and sustainability adviser, Inspired, is in talks with US private equity firm, HGGC, regarding a possible cash offer priced at 81p per Inspired share.

The potential deal, which would value Inspired at around £129m, would represent an increase on an earlier 68.5p per share bid from Regent Acquisitions.

Inspired, which is listed on the AIM market of the London Stock Exchange, has described the HGGC bid as a “superior proposal” and said it was urging it shareholders to take “no action” in respect of Regent’s offer.

HGGC may still reduce the terms of its proposal to account for a final dividend of 1p per Inspired share, as announced by the Inspired Directors on 31 March, should the dividend be paid.

A statement from Inspired said: “The board of Inspired has indicated to HGGC that, should a firm offer be made on the financial terms of the HGGC superior proposal and with an acceptance condition set at this level, it would be minded to recommend such an offer to Inspired shareholders, subject to the agreement of the other terms of the offer.”

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