CVC Bids $1.9 Billion for Dutch Firm Targeted by Activists
- Offer comes days after Hawk Ridge pressed for change
- Parties contemplate merging Intertrust with TMF Group
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Dutch financial services firm Intertrust NV has attracted a takeover offer just days after activist Hawk Ridge Capital Management pressured it to explore strategic alternatives. The shares jumped the most on record.
Intertrust agreed to enter exclusive talks with funds advised by CVC Capital Partners, which made an indicative offer of 18 euros ($20.60) a share in cash, the Amsterdam-based company said in a statement on Friday. The bid, implying a 43% premium on the previous close, values the Dutch firm at around 1.63 billion euros, according to Bloomberg calculations.