HarbourVest's takeover bid for SVG Capital accepted by board

A bid of 715p a share

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...