Investing.com -- H.B. Fuller Co. submitted a bid exceeding £600 million ($804 million) for Advanced Medical Solutions Group Plc, a British manufacturer of tissue-healing medical products, Bloomberg reported Thursday.

The U.S. specialty chemical company proposed a valuation of more than 280 pence per share for AMS, representing a premium of over 30% to Wednesday's closing price.

H.B. Fuller submitted an all-cash proposal for AMS on April 30 and is currently conducting discussions and due diligence with the British company, according to a Thursday regulatory filing. The filing did not disclose the specific offer amount. Under UK takeover rules, the company must make a firm bid or withdraw by June 18.

The Minnesota-based firm stated in its regulatory filing Thursday that no certainty exists that a binding offer will be made. The company described itself as a "disciplined acquirer" and noted it continues to explore other assets in the medical adhesives market.

Deliberations remain ongoing and details of the proposal could change following further negotiations, the report stated.

Goldman Sachs Group Inc. and Perella Weinberg Partners are advising H.B. Fuller, while AMS is working with Evercore Inc. and Investec Plc.