UK-based healthcare software company Craneware has rejected a £939.4m ($1.27bn) takeover approach from Bain Capital, stating the private equity firm’s proposed offer significantly undervalued the business, according to a report by Reuters.
Bain’s indicative offer of £26.50 per share represented a 29.3% premium to Craneware’s closing price on 15 May, the day before the US PE firm publicly disclosed its interest. However, Craneware’s board dismissed the bid, arguing it did not reflect the company’s long-term value or strategic prospects.
Despite the proposal, Bain Capital has now confirmed it does not intend to proceed with a formal offer.
Craneware’s shares rose modestly in early London trading on Wednesday to £20.10, giving the company a market capitalisation of approximately £710m, according to LSEG data. Shares had slumped to an 18-month low in April, amid broader investor caution triggered by geopolitical uncertainty and renewed US tariffs announced by President Trump.
Craneware provides financial and operational software solutions to US healthcare providers and has been seen as a niche but strategic asset due to its recurring revenue model and exposure to the US market.
