UK's Kin and Carta jumps on increased offer from Apax Partners
07/12/2023 08:34
** Shares of digital consultancy firm Kin and Carta KCT.L
up 9.28% at 113p, highest in 9 months
** Stock top gainer on FTSE small cap index .FTSC
** Co agrees to increased cash offer by newly formed co
owned by funds advised by Apax Partners
** Proposed cash deal for 120 pence per KCT share valuing co
at about 220.3 mln pounds ($277.16 mln)
** On October 18, co had reached agreement with Apax
Partners for a valuation of about 203 mln pounds
** New offer represents about 54% premium of closing price
of 78p on October 17 and 16.5% premium on 103p as of last close
** As of last close, stock down 52% YTD
($1 = 0.7948 pounds)
(Reporting by Hani Kollathodi in Bengaluru)
((Hani.Kollathodi@thomsonreuters.com;))