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Sanne still in talks with Cinven, offer deadline extended
6th Aug 2021 07:46
(Sharecast News) - Sanne said on Friday that it remains in discussions with private equity firm Cinven about a possible offer for the company and that the offer deadline has been pushed back.
The FTSE 250 fund administrator announced earlier in the week that it was in advanced talks with Apex about a possible offer at 920p per share in cash.
It is also still in talks with Cinven, which is "considering its options and continues to work closely with Sanne regarding a possible offer".
As a result, Cinven now has until 30 August to announce a firm intention to make an offer or walk away.
"There can be no certainty that any offer will be made, nor as to the terms of any such offer," Sanne said, adding that a further announcement will be made if and when appropriate.
Sanne announced on Monday that it was in talks with Apex about a possible offer, which it said was at a value the board would recommend.
The FTSE 250 fund administrator announced earlier in the week that it was in advanced talks with Apex about a possible offer at 920p per share in cash.
It is also still in talks with Cinven, which is "considering its options and continues to work closely with Sanne regarding a possible offer".
As a result, Cinven now has until 30 August to announce a firm intention to make an offer or walk away.
"There can be no certainty that any offer will be made, nor as to the terms of any such offer," Sanne said, adding that a further announcement will be made if and when appropriate.
Sanne announced on Monday that it was in talks with Apex about a possible offer, which it said was at a value the board would recommend.