Financial news and information provider Euromoney Institutional investor has received a £1.6 billion buyout proposal from private equity firms Astorg and Epiris, according to a report by The Financial Times.
The FTSE 250-listed financial publisher is said to be in talks about a “possible cash offer” of £14.61 per share – the PE duo’s fifth offer to take the company private. The previous four offers are reported to have ranged in value from £11.75 to £13.50 per share.
Euromoney is reported to have said in a statement on Monday that “there can be no certainty that an offer will be made nor as to the terms on which any offer might be made”.
Under UK takeover rules, the prospective buyers are required to lodge a firm offer or withdraw by 18 July.