(Alliance News) – Gresham House on Wednesday said that its shareholders approved the planned takeover by US-based private equity and debt investor Searchlight Capital Partners.
The takeover is still subject to certain conditions, such as the court’s sanction, but Gresham expects it to be completed in late 2023 or early 2024.
Gresham House in July agreed with Seed Bidco Ltd, a newly incorporated entity formed by funds advised by Searchlight at 1,105 pence per share bid.
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Gresham House shares closed 0.4% higher at 1,064.25 pence each in London on Wednesday, two hours before the company announced the results from the court meeting and the general meeting.
The offer values asset manager Gresham at around £469.8m on a fully diluted basis, or £440.6m on an enterprise value basis.
By Tom Budszus, Alliance News reporter.
Source: Morningstar
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