BofA update shows where active managers are putting money
LONDON - Regent Acquisitions 2025 Limited announced Friday that its all-cash offer for Inspired PLC has lapsed after failing to meet the required acceptance condition by the August 8 deadline.
By the 1:00 p.m. London time cutoff, Regent had received valid acceptances for only 266,664 Inspired shares, representing approximately 0.17% of the company’s issued share capital. Combined with Regent’s existing holding of 46,865,710 shares, this would have given the bidder control of approximately 29.52% of Inspired’s shares - well short of the acceptance threshold needed for the offer to proceed.
As previously indicated in a July 25 announcement, Regent confirmed it will now accept the competing offer from Intrepid Bidco for its entire 29.36% stake in Inspired. Regent will also accept Intrepid Bidco’s proposals regarding the 20,000,000 Inspired warrants and 2,500,000 convertible loan notes currently held by the wider Regent Group.
Following the lapse of the offer, all share certificates and documents of title submitted by Inspired shareholders who had accepted the Regent offer will be returned within 14 days. For shares held in uncertificated form, the receiving agent will instruct Euroclear to transfer relevant shares back to the original available balances of the shareholders.
The offer period for Regent’s bid has now officially ended under the City Code on Takeovers and Mergers.
This article is based on a press release statement issued by Regent Acquisitions 2025 Limited.
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