(Alliance News) - Kin & Carta PLC on Thursday said it and a group of Apax Partners LLP funds have agreed on an increased cash offer which values it at GBP258 million.
Shares in Kin & Carta were trading 8.3% higher at 112.00 pence each that morning in London.
In mid-September, the London-based business software consultancy said it and the funds, advised by London-based private equity investor Apax, had agreed on a cash offer valuing its share capital at 110 pence per share.
On Thursday, however, Kin & Carta said the parties have reached agreement on an "increased and final" offer, with shareholders now entitled to receive 120p per share.
Kin & Carta said this new bid values its entire share capital at approximately GBP220.3 million on a fully diluted basis, and implies an enterprise value of GBP258 million.
By Emma Curzon, Alliance News reporter
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