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LONDON - FD Technologies plc, a UK-based company, has confirmed that it is in advanced discussions with private equity firm TA Associates regarding a potential cash offer for the company’s entire issued and to be issued share capital. FD Technologies’ share price has seen notable movement recently, prompting this announcement.
On March 24, 2025, FD Technologies received a non-binding proposal from TA Associates for a possible cash offer of £24.50 per share, which includes an alternative of unlisted shares. While the company’s board has indicated that it would be inclined to recommend such an offer to its shareholders if it becomes firm, there is no certainty that a final offer will be made.
TA Associates has until 5:00 p.m. on June 4, 2025, to either announce a firm intention to make an offer or to declare that it will not pursue the acquisition, as per Rule 2.6(a) of the City Code on Takeovers and Mergers. This deadline may be extended with the consent of the Takeover Panel.
The announcement also stipulates that TA Associates reserves the right to propose a lower offer or on less favorable terms if certain conditions are met, including agreement from FD Technologies’ board, a competing offer from a third party, or certain corporate transactions by FD Technologies.
The announcement contains inside information, and FD Technologies has taken steps to ensure that this information is now in the public domain. FD Technologies has appointed Rothschild & Co and J.P. Morgan Cazenove as its financial advisers, with Investec (LON:INVP) Bank plc serving as its nominated adviser and joint corporate broker. Allen & Overy Shearman Sterling LLP is acting as the legal adviser for the potential transaction.
FD Technologies’ issued share capital as of the close of business on May 6, 2025, consisted of 22,105,740 ordinary shares. The company has made this announcement with the consent of TA Associates, and further announcements will be made as appropriate. This potential acquisition is based on a press release statement from FD Technologies.
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