Hargreaves Lansdown's takeover deal has cleared yet another major hurdle, as the majority of shareholders have voted in favour of the £5.4bn transaction.
Harp Bidco, a private equity consortium comprised of CVC Capital Partners, Nordic Capital and Abu Dhabi Investment Authority, made several bids back in the summer for the platform group, with the HL's board eventually agreeing to an offer in August. Yesterday (14 October), an 87% majority of HL shareholders voted in favour of the deal. However, 13.4% of shareholders voted against the offer. Shareholders will now have to decide if they want to participate in Bidco's ‘alternative offer', whereby eligible HL shareholders may elect for in respect of some or all of their shares as an alter...
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