UK’s Hargreaves Lansdown, on Monday, gave a consortium led by CVC advisers and the Abu Dhabi Investment Authority (ADIA) until August 9, to make a firm offer for the British investment platform. The company, co-founded by Peter Hargreaves , is preparing to sign off on a GBP5.41bn($6.
9bn) takeover if the group of investors table a formal offer. The platform has extended the deadline for the third time to the group of private equity bidders. The consortium of bidders include CVC, Copenhagen’s Nordic Capital and Abu Dhabi Investment Authority-owned Platinum Ivy.
Hargreaves Lansdown said talks with the consortium “remain ongoing”. The British firm said in June that it was inclined to recommend a firm offer that values the platform at GBP5.4bn which translates to GBP11.
40 a share. It has in the past rejected several lower bids from the consortium. Hargreaves Lansdown, is due to report its final results on Friday.
However, it does not have approval from its shareholders for a deal. Read: ADIA subsidiary leads $120m investment in beauty platform Purplle.
