Shareholders of Euromoney Institutional Investor have voted in favour of a bid by Becketts Bidco, a consortium of Luxembourg-based private equity firm Astorg Asset Management and London-based private equity firm Epiris to acquire the business, according to a report by Private Equity Insights.
The deal for the London-based global B2B information services business needed that backing of 75% of shareholders for it to go ahead.
In the end, 415 scheme shareholders voted in favour while 34 voted against representing a 92% majority, while in the general meeting 66,247,589 shares voted in favour and 7,371,449 voted against, a majority of 90%.
Euromoney had accepted a 1.61bn takeover bid from Becketts Bidco back in July. Becketts Bidco is a consortium of Luxembourg-based private equity firm Astorg Asset Management and London-based private equity firm Epiris LLP.
The scheme still remains to be sanctioned by the court at a hearing expected to take place in the Q4 202, with the deal executed to become effective by year end.
Becketts Bidco will pay 1,461 pence per Euromoney share, a 34% premium on Euromoney’s “undisturbed” stock price of 1,094p on 17 June 17, the final trading day before Euromoney confirmed the takeover approach.
