– Dignity Plc mentioned on Monday it might be acquired by a consortium comprising funding corporations SPWOne V Ltd, Castelnau Group and Phoenix Asset Administration Companions, valuing the funeral providers supplier at 281 million kilos ($349 million).
The 550 pence-per-share money provide represents a premium of 29.3% to the Jan. 3 closing value of 425.5 pence, the final enterprise day earlier than the beginning of the provide interval.
The consortium, which already owned or managed about 29% of stake in Dignity, mentioned in a joint assertion that the funeral service supplier will get vital funding below a non-public possession and supply the monetary muscle to take a look at acquisitions.
The deal contains the choice for Dignity shareholders to remain invested within the firm by an unlisted share various in Valderrama, an oblique dad or mum firm of bidding firm Yellow (SPC) Bidco Ltd, or a listed share various in Castelnau.
Earlier this month, Dignity had mentioned it was in superior talks with the consortium after getting unsolicited buyout proposals from the identical group in October and November.
($1 = 0.8052 kilos)
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