Ideagen recommends Hg’s $1bn takeover offer, remains in talks with Astorg | AltAssets Private Equity News
Summary
The board of directors at Ideagen intends to recommend the deal unanimously, although it remains in talks with French private equity group Astorg. Never miss a story – click to sign up to AltAssets’ free daily PE newsletter Ideagen’s shares jumped 46% after the announcement. We recognise that Ideagen is a global organisation with stakeholders around the world, but with deep community ties and a strong local heritage. We strongly believe that the core of the business should be maintained in its Nottingham base, including its executive team and technological development centre.” Fellow buyout giant Cinven had initially considered a possible offer for Ideagen in April but had later said it did not intend to pursue further. Hg was also reported in March to be raising more than $15bn across a pair of new funds, with its new large-cap vehicle said to be set for a $10bn final close next quarter.
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