TOP NEWS: Alpha Financial Markets minded to accept Bridgepoint offer

(Alliance News) - Alpha Financial Markets Consulting PLC on Wednesday confirmed it had received a ...

Alliance News 19 June, 2024 | 11:22AM
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(Alliance News) - Alpha Financial Markets Consulting PLC on Wednesday confirmed it had received a bid proposal from Bridgepoint Advisers Ltd worth around GBP580 million.

The Paris-based asset and wealth management and insurance consultancy said the non-binding indicative offer from Bridgepoint is worth 505 pence per share.

At that level, Alpha said it was "minded unanimously to recommend the proposal" to shareholders should a firm bid be forthcoming.

Shares in Alpha Financial Markets Consulting were 22% higher at 477.50p in London around midday Tuesday.

Bridgepoint has until Thursday to outline its intentions.

In May, Alpha said BridgePoint was considering making a cash offer.

It said Cinven Ltd was also "considering a possible offer", but has not yet submitted any indicative proposal.

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Alpha Financial Markets Consulting PLC Ordinary Shares 499.00 GBX 0.00 -

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