LONDON (dpa-AFX) - Hargreaves Lansdown plc (HL.L) rejected takeover offer of 985 pence per share from a private equity group, citing that it undervalues the company and its future potential.
The consortium comprise of CVC Advisers Limited, Nordic Capital XI Delta, SCSP , and Platinum Ivy B 2018 RSC Limited, a wholly-owned subsidiary of Abu Dhabi Investment Authority.
Hargreaves Lansdown confirmed that it had previously received two approaches from the Consortium regarding a possible offer for Hargreaves Lansdown, most recently at a price of 985 pence per ordinary share in the share capital of Hargreaves Lansdown.
Hargreaves Lansdown said it is focused on executing its strategy and looks forward to updating the market at the full year results on 9th August 2024. In the meantime, shareholders are advised to take no action.
As per U.K. rule, by not later than 5.00 pm on 19th June 2024, the Consortium must either announce a firm intention to make an offer for Hargreaves Lansdown or announce that it does not intend to make an offer for Hargreaves Lansdown. The deadline may only be extended with the agreement of Hargreaves Lansdown and the U.K. Takeover Panel.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
