British investment platform Hargreaves Lansdown has confirmed its acceptance of a £5.4 billion ($6.9 billion) takeover offer from a consortium of investors, including CVC Group, Abu Dhabi’s sovereign wealth fund, and private equity firm Nordic Capital. This final offer, announced on Friday, marks a major milestone for the U.K.’s largest stockbroker.
As per the agreement, Hargreaves Lansdown shareholders will receive 1,110 British pence per share, along with a 30 pence per share dividend. Following the news, the company’s shares saw a modest increase of about 2% in early trading.
This offer follows a previous bid from the same consortium in May, which was valued at £4.7 billion, or 985 pence per share. At that time, Hargreaves Lansdown rejected the offer, citing that it significantly undervalued the company’s worth and growth potential.
The new offer represents a 54% premium over the share price of 740 pence on April 11, just before the consortium’s initial bid was revealed. This acquisition is expected to reshape the U.K.’s investment platform sector and highlights the growing interest of international investors in British financial institutions.
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