A consortium comprising CVC Advisers and the Abu Dhabi Investment Authority on Wednesday said it was considering a possible revised offer for Hargreaves Lansdown after the British investment platform’s board rejected a buyout proposal it had made in April.
The group said it had earlier approached the Hargreaves board with an offer of 985 pence per share on April 26.
Last month, Hargreaves said it saw good momentum in April after adding 1.6 billion pounds ($2.04 billion) in net new business in the previous quarter.
Hargreaves’ shares, which rose as much as 6.1% during the day, closed at 979 pence, with traders citing speculation over potential bid interest for the London-listed company.
Hargreaves Lansdown was not immediately available for comment on the proposal.
Source: Reuters.com