PLANS by bosses at economic development firm Enterprise to make a bid for the company have been hit.

A team led by chief executive David Taylor had indicated it was considering making a bid to buy the Preston-based firm which has interests across East Lancashire.

But a second potential bidder later indicated to the firm that it was also interested in making an offer.

A committee of the independent directors of the firm looked at both potential offers and has now decided to pursue the one from the second bidder.

"The existing management team remains in place and is committed to working with the committee of directors in promoting the interests of the company, its shareholders, employees and customers," said a statement issued by the firm.

"There can be no certainty that a formal offer will be received."

Shares in the firm rocketed by more than 20 per cent last month after news of the possible bid approaches.

The announcement in November of a possible management buyout led by David Taylor came after two directors quit the firm in a surprise move.

Charles Brocklehurst, deputy chief executive of the Preston-based firm and colleague Dennis Artess, both resigned their posts.

In a short statement issued by Enterprise at the time, the firm said the two had left to pursue their careers "in other directions."

Enterprise, formerly Lancashire Enterprises, is heavily involved in projects across East Lancashire, including the Technology Management Centres in Blackburn and Accrington.

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