Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

UK's Alfa Financial tumbles as EQT drops buyout pursuit

Published 07/07/2023, 15:25
© Reuters.

(Reuters) - Investment firm EQT said on Friday that it did not plan to make a buyout offer for UK's Alfa Financial Software (L:ALFAAL), sending shares in the London-listed company 25% lower.

Last month, EQT said it proposed to buy Alfa Financial Software, which provides software for the asset finance industry, for 614.4 million pounds ($786.06 million), or 208 pence per share.

Shares in Alfa dropped 25% to 146 pence by 1403 GMT on Friday's announcement by EQT.

The private equity firm said on Friday the irrevocable undertaking with CHP Software and Consulting Limited - controlled by Alfa Chairman Andrew Page - relating to the possible offer had terminated and ceased to be binding.

($1 = 0.7816 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.