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LONDON - William Currie Investments Limited has sold its entire shareholding in Inspired PLC amid an ongoing takeover battle, according to a disclosure made Wednesday under the City Code on Takeovers and Mergers.
The investment firm had previously provided a letter of intent to accept a recommended cash offer from Intrepid Bidco Limited, a company managed by funds advised by HGGC, LLC. William Currie has now divested all of its 391,744 remaining shares in Inspired, following an earlier sale of 2 million shares disclosed on July 8.
Despite selling its equity stake, William Currie continues to hold 3,291,744 Inspired Warrants. The letters of intent previously provided by William Currie remain applicable to these warrants.
The HGGC-backed offer for Inspired comes after an unsolicited bid from Regent Acquisitions 2025 Limited announced on April 22. William Currie had previously indicated to Inspired on April 29 that it did not intend to accept Regent’s offer.
Following these developments, Inspired has received confirmations from shareholders representing approximately 47.64 percent of its issued share capital that they do not currently intend to accept Regent’s offer.
The total number of Inspired shares now subject to letters of intent and irrevocable undertakings to accept the Intrepid Bidco offer represents approximately 38.70 percent of Inspired’s issued ordinary share capital, according to the company’s statement based on a press release.
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