Sanne, the UK-listed fund administration business, is in “advanced discussions” with fund servicing group Apex over a potential £1.5bn takeover, having already been in discussions with private equity firm Cinven over a deal. Apex’s offer would come in at 920p in cash per share, ahead of the 875p that Cinven was prepared to offer in June.
Sanne, a FTSE 250 company based in Jersey, said on Monday that its board would support the bid if Apex had a “firm intention to make an offer”. Sanne said due diligence over the deal was “well advanced”, but cautioned that there was no certainty that any offer would be made.
The fund administration business said Apex had until August 30 to commit to an offer.
Read more/Source: FT
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