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Hargreaves Lansdown Agrees to £5.4 Billion Takeover Offer
British investment platform Hargreaves Lansdown has agreed to a takeover offer of £5.4 billion ($6.9 billion) from a consortium of investors including CVC Group, Abu Dhabi’s sovereign wealth fund, and private equity investor Nordic Capital.
The offer, which was described as final, represents a premium of 54% to the share’s closing price of 740 pence on April 11, the day before the group’s initial bid for the company. Shareholders will receive 1,110 British pence per share and a dividend of 30 pence per share under the deal.
Hargreaves Lansdown had previously rejected an offer of £4.7 billion, or 985 pence per share, in May, stating it “substantially” undervalued the company and its prospects.
In a statement, Hargreaves Lansdown Chair Alison Platt said the takeover offer “represents an attractive opportunity for HL Shareholders.”
The consortium, which includes CVC Private Equity Group, Nordic Capital Advisors, and the Abu Dhabi Investment Authority, believes Hargreaves Lansdown requires substantial investment in an extensive technology-led transformation to improve its proposition and resilience, and to drive the next phase of growth and development.
“We look forward to partnering with HL’s management to accelerate its transformation plan – including investment in technology infrastructure, digital channels, and service enhancement – all with client value, service, speed of innovation, and HL’s clear purpose at the core,” they added.
The takeover is expected to complete during the first quarter of 2025, subject to shareholder approval.
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The Olojo Festival, an ancient and vibrant Yoruba festival, is a grand celebration held annually in Ile-Ife, Nigeria, to honor Ogun, the god of iron and war, and the rich heritage of the Yoruba people. This deeply spiritual festival brings thousands of people together, showcasing traditional customs, colorful attire, music, and rituals that highlight Yoruba history and mythology.
The highlight of the event is the appearance of the Ooni of Ife, who dons the sacred Are Crown, believed to hold immense spiritual power. Through processions, sacrifices, and community gatherings, the Olojo Festival strengthens cultural identity, unites people, and pays homage to the gods. As an enduring celebration of Yoruba pride, it captivates locals and visitors alike, reminding all of the deep cultural legacy of Ile-Ife.
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Ademola Lookman, the Nigerian forward making waves across African and European football, has emerged as a leading contender for the prestigious 2024 CAF Player of the Year Award. Known for his agility, sharp finishing, and impactful performances, Lookman has consistently delivered for both club and country, contributing crucial goals and assists throughout the season.
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Welcome to the highly anticipated 23rd volume of Diaspora Watch, your indispensable source connecting the vibrant African diaspora around the world! This edition is packed with captivating stories and in-depth analysis.
FREE Digital View: https://www.flipsnack.com/excelglobalmedia/diaspora-watch-vol-23-nov-4-10-2024/full-view.html
Print on Demand: https://www.magcloud.com/browse/issue/2935447?__r=1069759
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Hurray! It’s the 25th Edition of Diaspora Watch!
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