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LONDON - Regent Acquisitions 2025 Limited has agreed to support HGGC’s cash offer for Inspired PLC (AIM:INSE) after announcing plans to let its own bid lapse, according to a press release issued Monday.
Regent signed a letter of intent to accept HGGC’s offer for its entire holdings of Inspired shares, warrants and convertible loan notes, conditional upon Regent’s own offer lapsing on August 8, 2025.
HGGC’s bid, made through its newly formed company Intrepid Bidco Limited, represents an 18% premium to Regent’s earlier offer. The competing bid was first announced on June 26, following Regent’s unsolicited offer made on April 22.
With Regent’s support, HGGC has secured letters of intent and irrevocable undertakings representing approximately 68.06% of Inspired’s issued ordinary share capital as of July 25, enough to satisfy the acceptance condition of its offer.
Inspired’s board continues to recommend shareholders accept the HGGC offer, describing it as "the most attractive and deliverable proposal" for the company and its shareholders. The board noted it has received no other acquisition proposals since HGGC’s formal bid announcement in June.
Inspired PLC, listed on London’s AIM market, had previously recommended the HGGC offer to shareholders following the announcement of agreed terms last month.
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