UK-based data analytics and consulting firm GlobalData has received preliminary takeover proposals from funds managed by private equity heavyweights KKR and Intermediate Capital Group (ICG), the company announced on Wednesday, triggering a share price surge of nearly 36%, according to a report by Reuters.
Discussions are currently ongoing, with both parties required to confirm a firm intention to make an offer by 28 May, in line with UK Takeover Panel rules.
While KKR and ICG declined to comment on the ongoing talks, the move highlights increasing private equity interest in undervalued UK-listed assets. GlobalData, which is currently traded on London’s AIM exchange, has seen its share price fall by nearly 29% year-to-date. Earlier this year, the company announced plans to shift its listing to the main market of the London Stock Exchange, in an effort to attract broader investor interest.
The firm posted 32% annual profit growth last month and is progressing toward a £500m annualised revenue target by 2026. The takeover interest comes amid a wider trend of AIM-listed companies considering take-private deals, as depressed valuations and changes in UK tax policy have made public listings less attractive.
