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yesterday

FD Technologies Considers £550m Takeover Offer from US Firm TA Associates

The board signals intent to recommend the deal if formalized, with TA Associates facing a June 4 deadline to confirm its bid.

A string of London listed technology companies has recently received takeover offers from the US

Overview

  • TA Associates has proposed a potential cash offer of 2,450p per share, valuing FD Technologies at approximately £550m.
  • FD Technologies' board stated it would recommend the deal to shareholders if the offer is formally confirmed under the same terms.
  • Shares in the AIM-listed company surged 23% to 2,380p following the announcement of the potential takeover proposal.
  • TA Associates has until 5pm on June 4 to either make a firm offer or withdraw, as per Takeover Panel rules.
  • FD Technologies has recently restructured to focus on its KX data analytics platform, selling non-core assets including its consulting arm and marketing unit.