Private equity firm Searchlight Capital Partners has reached an agreement to acquire Gresham House, a UK-based asset manager, in a cash deal worth £470 million ($615.1 million). The offer price of 1,105 pence per Gresham share represents a 63% premium to the company’s closing price on Friday. Gresham’s board unanimously recommends the deal to its shareholders, with Gresham House Chairman Anthony Townsend stating that the acquisition provides an attractive opportunity for shareholders to unlock long-term value in the current economic climate. The transaction is expected to be completed through a scheme of arrangement.
Searchlight Capital Acquires Gresham House for £470 Million in Cash
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