Adds details on deal from paragraph 2 onwards

May 22 (Reuters) - Britain's Bodycote BOY.L on Friday said it received a conditional proposal from Apollo APO.N for a possible all-cash offer, valuing the thermal processing services provider at about £1.52 billion ($2.04 billion).

Shares in the London-listed company rose nearly 16% to 810 pence.

The U.S.-based alternative asset manager's proposal came in 885 pence per share in cash, a nearly 27% premium to Bodycote's closing price on Thursday.

Bodycote shareholders will also be entitled to receive a proposed final dividend of 16.1 pence per share for the 2025 financial year.

($1 = 0.7450 pounds)