Finance

Hargreaves Lansdown secures £5.4bn private equity acquisition

Aug 9, 2024 1 min read

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Hargreaves Lansdown, a UK-based investment firm, has agreed to a £5.4 billion takeover offer from a consortium led by CVC Capital Partners, Nordic Capital, and Platinum Ivy, a subsidiary of the Abu Dhabi Investment Authority (ADIA). Shareholders will receive 1,140 pence per share, comprising 1,110 pence in cash and a 30 pence dividend for the fiscal year ending 30 June 2024. The deal is expected to be finalized in the first quarter of 2025, contingent on shareholder approval.

The takeover proposal values Hargreaves Lansdown's shares at a 54% premium over their price at the time of the initial offer. The consortium aims to invest in the company's technology platform to enhance digital channels and financial products, although this transformation will require significant time and investment. The independent directors of Hargreaves Lansdown have recommended that shareholders vote in favor of the deal, describing the offer as 'fair and reasonable.' The consortium's bid also includes an alternative option for shareholders to retain an equity interest in the company despite its move to a private structure.

#business #private-equity #europe-public-private-sector #mergers-and-acquisitions

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