The Financial Conduct Authority has approved the acquisition of Mattioli Woods by private equity company Pollen Street Capital in a deal valued at £432m.
In a stock exchange notice yesterday (3 July), Tiger Bidco, a wholly-owned subsidiary of investment vehicles advised and managed by Pollen Street, said it had reached an agreement on the terms and conditions of a cash offer. On 8 March, Pollen Street made an offer of 804p per share for the wealth manager, marking a 34% premium on the AIM-listed firm's closing share price of 600p per share a day prior. At the time, the wealth manager noted that the acquisition would provide Mattioli Woods and its management team the flexibility to take longer-term decisions to "maximise the growth pote...
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