Hargreaves Lansdown (HL) has rejected a takeover bid from a consortium of private equity firms, valued at £4.67bn.
The financial services firm stated that it was approached by a consortium, comprising CVC Advisers, Nordic Capital and Platinum Ivy, which is a subsidiary of Abu Dhabi Investment Authority, to acquire the form at 985 pence per share.
However, HL said that its board had unanimously rejected the proposal on the basis that it “substantially undervalues” the firm and its future prospects.
The firm said it is focused on executing its strategy.
Following the announcement, shares at HL jumped by more than 15%, according to the FT, with its share price increasing by 60% in the year to date.
In line with takeover rules, the consortium must announce a firm intention to make an offer for HL or state that it does not in the next 28 days.
In the meantime, HL has said that shareholders are advised to take no action.
Latest News
-
Tories pledge to scrap stamp duty on primary residencies
-
Economic climate taking emotional toll on three in four consumers
-
IMLA warns Chancellor not to hike taxes in housing market in Budget
-
Lloyds announces full acquisition of SPW
-
IFA enquiries surging in build-up to Budget
-
Three in five cash ISA savers would consider stocks and shares alternative
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories