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Sun Capital Partners in advanced talks to buy K3 Capital in $314 million deal

Published 08/12/2022, 16:18
Updated 08/12/2022, 16:48
© Reuters.

(Reuters) -K3 Capital said on Thursday it was in advanced talks to sell itself to U.S. private-equity firm Sun Capital Partners Group in a deal valuing the British professional services firm at 257.3 million pounds ($314 million).

Sun Capital Partners will pay 350 pence per K3 share in a possible cash proposal, a 16.6% premium to the company's last close on Wednesday.

K3 Capital, which had received expressions of interest from multiple entities, said the other parties were no longer considering a possible offer for the company.

The company may recommend Sun Capital's proposal unanimously should a firm intention be made, it said.

($1 = 0.8192 pounds)

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