UPDATE: Anexo asks shareholders to take no action on possible DBAY bid

(Alliance News) - Anexo Group PLC on Wednesday asked shareholders to take no action on a ...

Alliance News 23 April, 2025 | 11:59AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Anexo Group PLC on Wednesday asked shareholders to take no action on a potential takeover offer by DBAY Advisors Ltd, saying it has not yet received any proposal from the bidders.

DBAY late Tuesday said it is considering making an offer for Anexo, together with some of the company's management team.

Shares in Anexo closed 20% higher at 61.00 pence in London on Tuesday giving it a market value of GBP72 million. The stock was down 0.4% to 60.75p midday Wednesday.

DBAY, an Isle of Man-based asset management firm, said it is mulling a bid alongside Anexo Executive Chair Alan Sellers and Bond Turner Managing Director Samantha Moss.

Bond Turner is the dedicated legal services provider of Liverpool-based Anexo, itself a specialist integrated credit hire and legal services company.

In 2021, DBAY considered a 150p per share offer for Anexo but subsequently decided against going ahead with it.

On Tuesday, DBAY said it expects any offer would comprise entirely loan notes issued by a newly incorporated entity jointly controlled by funds managed or advised by DBAY, Sellers and Moss, or ordinary shares with an underlying economic interest in the newly incorporated entity making the proposal.

The offer would be for shares not held by DBAY, Sellers or Moss.

DBAY, Sellers and Moss said they reserve the right to introduce other forms of consideration and/or vary the mix of consideration of any offer.

The consortium has until May 20 to make a firm proposal for Anexo.

By Jeremy Cutler, Alliance News reporter; updated by Tom Waite, editor

Comments and questions to newsroom@alliancenews.com

Copyright 2025 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Anexo Group PLC 66.00 GBX -4.35 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2025 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures