Hargreaves Lansdown accepts £5.4bn private equity takeover
Deal expected to close in first quarter of 2025
Deal expected to close in first quarter of 2025
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Deal is expected to complete in the first half of 2025
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The investment trust sector is increasingly willing to take difficult choices to deliver shareholder value
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Some 8% of Witan’s portfolio is invested in other trusts
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The merger is the result of Witan CEO Andrew Bell’s impending retirement
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Bidco initially revised its offer for SONG on 3 June
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HL board would be willing to recommend the offer to shareholders should interest be firmed up
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Brookfield announced it is in the ‘early stages’ of assessing a cash offer
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‘The UK market finally appears to be garnering attention’
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While the bid will now be executed via a scheme of arrangement
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Expected to complete in the third quarter of this year
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FSF board agreed terms over the 97p per share offer, which comes at a 32.9% premium to the share price at close last night
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