Transact boss Taylor open to exit as platform calls in Goldman to broker sale

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Transact has appointed Goldman Sachs to broker a full sale of the business, with senior staff open to an exit if a takeover is agreed, Professional Adviser's sister title Investment Week understands.

The investment bank has sent a document to interested parties outlining the mechanics of a proposed deal which would see the entire business sold. The document says founders Ian Taylor (pictured) and Michael Howard - both key shareholders - would agree to exit the platform if requested as part of any takeover. In order to be approved, any deal requires 65% of shareholder votes - a likely occurrence if a buyer is found given the make-up of the shareholder base. According to the document, the top five shareholders own 36% of the company, including 53% of the voting rights. The maj...

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