Bridgepoint to Buy Alpha Financial Markets Consulting in £626m Deal
Private Equity Insights
Alpha Financial Markets Consulting agreed to be bought by Bridgepoint Group in a deal valuing the London-listed specialist consulting firm at around $796.2 m.
Private equity firm Bridgepoint is offering 505 pence in cash per Alpha FMC share, the groups said Thursday. The price is a 51% premium to the company’s closing price of 335.0 pence on April 30, the day before the takeover interest was disclosed.
Alpha FMC’s board is unanimously recommending the offer, which is final and won’t be increased, they said.
The transaction is expected to close during the third quarter and is subject to conditions and approvals.
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The group said in early May that it received an indicative proposal from Bridgepoint regarding a possible takeover cash offer and on Wednesday said that its board would recommend the deal to shareholders if a formal offer was made. Private equity firm Cinven Limited also expressed interest in buying the company but withdrew it later in the month.
Source: Market Watch
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