GlobalData, the London-listed data analytics and consulting group, has extended the deadline for private equity firm ICG to make a formal takeover bid, following the termination of discussions with KKR after the parties failed to agree on deal terms, according to a report by Reuters.
The new deadline for ICG (Intermediate Capital Group) to submit a binding offer is now 11 June, providing additional time for continued negotiations after the initial 28 May cut-off expired without a firm proposal.
GlobalData, which has a market capitalisation of approximately £1.52bn ($2.1bn), confirmed in April that it was in exploratory talks with funds managed by both ICG and KKR regarding a potential cash acquisition, with the added option for existing shareholders to elect an unlisted equity alternative – a structure increasingly used by private equity buyers to align incentives and preserve capital in higher rate environments.
Talks with KKR, however, have officially ended. The company offered no further detail beyond the inability to reach a mutually acceptable agreement.
GlobalData, which provides sector-specific analytics and advisory services across industries including healthcare, aerospace, and financial services, has become a compelling target amid rising sponsor interest in tech-enabled information platforms with recurring revenues and high-margin consulting overlays.
