(Alliance News) - Private equity firm Cinven has made a takeover approach towards FTSE 250 asset and corporate services provider Sanne Group PLC, valuing the company at GBP1.3 billion, Sky News reported Thursday.
According to city sources, Cinven has pitched an offer to Sanne at a considerable premium to Thursday's closing price of 603 pence.
Goldman Sachs is said to be advising Cinven, while Jefferies and JPMorgan are advising Sanne.
Sky News reported that it is expected that Sanne will confirm if talks are ongoing between both parties as soon as Friday morning.
https://news.sky.com/story/sanne-joins-list-of-london-listed-targets-as-cinven-makes-1-3bn-approach-12305610
Shares in Sanne closed 1.5% lower at 603.00 pence on Thursday in London, giving it a market capitalisation of GBP992.5 million.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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