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LONDON - Science in Sport PLC (AIM: SiS), a leading sports nutrition company, has disclosed a potential acquisition offer from private equity firm bd-capital Partners Limited. The non-binding proposal, priced at 34 pence per share, was announced Wednesday and could lead to the purchase of SiS’s entire issued and to be issued share capital.
An independent committee of SiS’s board is inclined to endorse the offer, subject to it becoming a firm intention under the City Code on Takeovers and Mergers’ Rule 2.7. However, bd-capital reserves the right to alter the terms of the proposal or propose a lower offer under certain conditions, including with the Board’s consent, if a third-party bid is lower, or following certain SiS corporate actions.
The discussions between SiS and bd-capital are at an advanced stage, but there is no guarantee that a definitive offer will be made. SiS shareholders have been advised to withhold action at this juncture.
bd-capital must confirm its intention to make a firm offer or withdraw by 5.00 p.m. (London time) on 14 May 2025, as per Rule 2.6(a) of the Code. This deadline is subject to extension with the Panel on Takeovers and Mergers’ approval.
The announcement of the possible offer has triggered an "offer period" for SiS, with specific disclosure requirements for shareholders under Rule 8 of the Code. The release of this information, deemed inside information under market abuse regulations, is now in the public domain by virtue of its publication through a regulatory information service.
The information in this article is based on a press release statement by Science in Sport PLC.
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