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JTC confirms competing takeover approaches from Warburg Pincus, Permira

Published 12/09/2025, 14:28
JTC confirms competing takeover approaches from Warburg Pincus, Permira
JTC
-1.52%

LONDON - JTC PLC (LSE:JTC) confirmed Friday it has received preliminary takeover proposals from both Warburg Pincus LLC and Permira Advisers LLP, following recent media speculation about potential offers for the company.

The fund administration services provider said it received a conditional non-binding proposal from private equity funds managed by Warburg Pincus to acquire its entire issued and to be issued share capital. This approach follows two earlier proposals from Warburg Pincus that JTC’s board unanimously rejected on September 5 and September 11.

JTC also disclosed it had previously received multiple proposals from Permira regarding a possible cash offer for the company. The board rejected three initial proposals from Permira, including one received on August 30. A fourth revised proposal was submitted by Permira on September 9.

The company stated it is currently in early-stage discussions with both potential bidders regarding their latest proposals.

Under UK takeover rules, Warburg Pincus has until October 10 to announce a firm intention to make an offer or declare it does not intend to proceed. Permira faces an earlier deadline of September 26.

JTC advised its shareholders to take no action at this time regarding either possible offer, noting there is no certainty that any firm offer will be made for the company, nor regarding the terms of any potential offer.

The statement was released in accordance with the City Code on Takeovers and Mergers, based on a press release from the company.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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