(Alliance News) - Support for a a private equity firm's takeover of Huntsworth PLC edged slightly lower, CD&R Artemis said on Thursday, after an existing shareholder which backs the acquisition, disposed of shares.
Healthcare public relations firm Huntsworth on Tuesday said it agreed to a GBP400 million takeover by CD&R Artemis UK Bidco Ltd, an entity fronted by New York-based Clayton Dubilier & Rice LLP.
Among Huntsworth's shareholders which support the acquisition is Kabouter Management LLC, a Chicago-based investment advisor.
CD&R said Kabouter - which has backed the takeover through a letter of intent - disposed of about 8.3 million Huntsworth shares, equal to a 2.2% stake.
This means that at the market close on Wednesday, CD&R had the support of shareholders holding 32% of Huntsworth's stock.
At the close on Tuesday, CD&R had the backing of 34% of Huntsworth shareholders.
Huntsworth shares were flat at 109.50 pence each in London on Thursday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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