Equiniti Group PLC - London-based financial administration outsourcer - Agrees to be taken over by New York-based technology-focused private equity firm Siris Capital Group LLC in a deal worth GBP673 million. Siris offers 180 pence per Equiniti share for the acquisition, which is a 56% premium to the closing price of 116 pence per Equiniti share on February 8, the day before initial press speculation of a potential bid for Equiniti. Further details of the scheme will be set out in an update to be "published as soon as practicable". "The Equiniti board believes that the offer from Siris represents an attractive and certain value in cash today for Equiniti's shareholders, reflecting the strength of Equiniti's high quality business and its future prospects in a still uncertain environment," says Equiniti Chair Philip Yea.
Current stock price: 181.00, up 7.5%
Year-to-date change: up 64%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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