Asset manager Sanne has sat down with private equity suitor Cinven after already rejecting its advances four times.
The two plan to hold talks over the £1.4 billion potential offer that Cinven has indicated it could make for the Jersey-based company.
Sanne first revealed that it was being courted by Cinven a month ago. The private equity giant had tabled an 830 pence per share bid on its third approach to Sanne.
But Sanne’s board rejected that offer, saying it did not reflect its full potential. The bid was “opportunistic”, Sanne said.
Two weeks later Cinven came back with a new offer, this time for 850 pence per share in Sanne. The board again rejected the bid and again it said that the bid did not reflect Sanne’s full potential.
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