Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
LONDON - Investment firm Intrepid Bidco Limited has secured a 63.72% stake in Inspired PLC, making its all-cash offer unconditional, according to a press release statement issued Friday.
Bidco, a newly formed company managed by funds advised by HGGC, LLC and its affiliates, has received sufficient acceptances to satisfy the acceptance condition of its recommended cash offer for the entire issued and to be issued ordinary share capital of Inspired.
The company has also waived the remaining conditions to the offer, making both the main offer and Rule 15 Proposals fully unconditional as of August 14.
With its majority shareholding, Bidco now has significant control over Inspired and can determine the approval or rejection of ordinary resolutions as well as the overall strategy of the Inspired Group.
The press release noted that if Bidco acquires or agrees to acquire 75% or more of Inspired’s voting rights, it intends to request that Inspired apply to the London Stock Exchange for cancellation of its AIM trading admission. Such a move would reduce the liquidity and marketability of any remaining Inspired shares not tendered in the offer.
The Inspired board has recommended that remaining shareholders and warrant holders accept the offer to receive their cash consideration promptly. The offer period for Inspired has now ended following the unconditional declaration.
The financial terms of the transaction were not disclosed in the announcement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.