HarbourVest's takeover bid for SVG Capital accepted by board

A bid of 715p a share

Tom Eckett
clock • 1 min read

After weeks of negotiations over the price, HarbourVest Global has had a bid accepted for SVG Capital.

The US firm originally offered 650p a share for SVG back on 12th September, but this offer was firmly rejected by the SVG board. The board instead recommended two bids to its shareholders, one from a group of investors led by Goldman Sachs and Canadian Pension Plan Investment Board, and the other from Pomona and Pantheon Ventures. However, HarbourVest came in with an eleventh hour bid of 715p a share, which the board accepted and is now recommending the shareholders accept this too. Aberdeen pays £29m to buy out SVG joint venture David Atterbury, managing director of HarbourVest...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on People moves

Trustpilot