Sanne Group PLC - London-based specialist alternative asset fund manager - Expects its acquisition by Apex Group Ltd to become effective during the third quarter of 2022. Sanne and Apex extend the long stop date to September 19. All other terms and conditions remain unchanged.
In the event the acquisition is not effective on or before August 12, each Sanne shareholder will be entitled to an interim cash dividend of 5.5 pence per Sanne share.
In August 2021, Apex and Sanne came to a takeover agreement of 920p per share, valuing Sanne at GBP1.51 billion. Apex had battled it out with Cinven Ltd for the signature of Sanne.
Current stock price: 901.00 pence, up 0.9% in London
12-month change: up 21%
By Heather Rydings; heatherrydings@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.