Deals
Hargreaves Lansdown Rebuffs £5 Billion Offer From CVC, ADIA
- Consortium made 985 pence per share approach on April 26
- Investment platform’s board says it “unanimously rejected” bid
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Hargreaves Lansdown Plc has rebuffed a £4.7 billion ($6 billion) offer for the investment platform from a group of private equity buyers including an Abu Dhabi sovereign wealth fund, saying it undervalues the firm.
CVC Capital Partners, Nordic Capital and Platinum Ivy — a subsidiary of Abu Dhabi Investment Authority — approached the UK firm’s board on April 26 with an offer of 985 pence ($12.54) per share, according to a regulatory filing Wednesday.