Carlyle in talks on $770 million takeover of UK's Innovation Group

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Innovation, which provides software and services to help insurers process claims, said the talks may or may not lead to a deal.

Shares in Innovation Group, which have risen by 18 percent in the last 12 months, were trading 6 percent higher at 37.5 pence at 1029 GMT.

Under takeover rules, Carlyle has until Sept. 25 to make a firm offer for Innovation or announce it does not intend to make an offer.

Innovation Group is being advised by Investec.

(Reporting by Paul Sandle; editing by Jason Neely)