LONDON: Private equity firm HGGC, LLC confirmed Tuesday that it is in advanced discussions with Inspired Plc over a possible cash offer of 81 pence per share, a bid that could result in a full acquisition of the company.
HGGC, the third party referenced in Inspired’s May 21 response to an unsolicited offer from Regent Acquisitions 2025 Limited, has outlined plans for a potential takeover structured under the Companies Act 2006. The proposal would include an acceptance condition that allows for completion without Regent’s involvement.
Inspired’s board indicated it would likely recommend the offer to shareholders if a formal bid is made on those financial terms. The company cited concerns about the impact of Regent’s bid on Inspired’s business and market valuation.
HGGC intends to adjust the terms of its proposal by deducting the company’s final dividend of 1 pence per share for the year ended Dec. 31, 2024, if paid. Inspired’s board suggested it would withdraw the dividend in the event of a firm offer.
No final decision has been reached, and Inspired said further announcements will be made as appropriate.