Inflexion in talks to buy UK's DWF for $438 mln (updated)
10/07/2023 11:13
(Adds details on the offer in paragraph 3, details on DWF in
paragraph 5)
July 10 (Reuters) - DWF Group DWF.L said on Monday it
was in talks with London-based Inflexion Private Equity Partners
regarding a possible buyout offer of about 342 million pounds
($438.41 million).
Shares of DWF soared as much as 40% to 92 pence apiece in
morning trade, following media reports on the possible takeover.
DWF said its shareholders would receive 100 pence per share,
which includes a cash consideration of 97 pence and a dividend
of 3 pence for the six months to April 30.
The offer represents a premium of 52.7% to DWF's Friday
closing price.
Manchester-based DWF provides legal and business services to
companies across sectors including financial, transport and
energy and natural resources. It reported annual revenue of
about 350 million pounds for fiscal year 2022.
($1 = 0.7801 pounds)
(Reporting by Eva Mathews in Bengaluru; Editing by Savio
D'Souza and Shinjini Ganguli)
((Eva.Mathews@thomsonreuters.com;))