Ashtead Technology receives $660 million takeover proposal from Ember

Sept 23 (Reuters) - British subsea technology firm Ashtead Technology on Wednesday said it has received a non-binding indicative proposal from Ember Infrastructure Management that values the company at about £498 million ($659.75 million).

Here are some more details:

• Ashtead said Ember has proposed to acquire the company for 615 pence per share in cash.

• The offer represents a 12.8% premium to Ashtead's last closing price of 545 pence.

• The proposal follows three previous approaches from Ember, the first two of which were rejected by the board, Ashtead said.

• The company is considering the latest proposal with its advisers, it added.

• Under UK takeover rules, Ember has until October 21 to announce a firm intention to make an offer or say it does not intend to proceed.

($1 = 0.7548 pounds)

(Reporting by Megha Kumari in Bengaluru)