Private equity house Pollen Street Capital is set to acquire Mattioli Woods in a take-private deal that values the wealth manager at £423m.
The Mattioli Woods board said this morning (8 March) that they had agreed to a cash offer from Tiger Bidco, a wholly-owned vehicle advised and managed by Pollen Street, and would now unanimously recommend the deal to shareholders. The proposed offer of 804p per share marks a 34% premium on the AIM-listed firm's closing share price of 600p per share on Thursday (7 March). According to Morningstar Direct, the wealth manager's share price has jumped 31% so far today in response to the news. Mattioli Woods Group currently holds over £15bn in assets under management, administration and adv...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
