Inactive Instrument

Hyve Group Plc

ITE

GB00BKP36R26

Providence Equity raises Hyve takeover bid for "final" time

April 25, 2023 at 11:32 am EDT

Hyve Group PLC - London-based events organiser - Providence Equity LLP lifts Hyve takeover bid to 121 pence per share from 108p, with the new bid valuing Hyve at GBP363 million on fully-diluted basis or GBP524 million in enterprise value. Providence Equity says new bid is final and will not be further increased. Hyve directors recommend unanimously that shareholders support the offer, while Providence Equity says offer has support of 28.5% of Hyve shareholders so far. In late March, Providence Equity brought in Searchlight Capital Partners UK LLP as a bid partner for its agreed takeover offer for Hyve. Providence said funds managed or advised by Searchlight will buy a 40% stake in Heron UK Bidco Ltd, the acquisition vehicle for the Hyve deal that is currently fully owned by funds advised by Providence.

Current stock price: 119.84 pence, up 4.2%

12-month change: up 65%

By Greg Rosenvinge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Hyve Group Plc

EU Commission OKs Providence Equity, Searchlight Capital Partners' Purchase of Hyve Group	23-06-02	MT
Hyve Group Delists from London Bourse After Takeover By Heron UK Bidco	23-05-23	MT
Heron UK Bidco Acquires Hyve Group	23-05-22	MT
Hyve Group Plc(LSE:HYVE) dropped from FTSE All-Share Index	23-05-22	CI
Hyve Group Plc(LSE:HYVE) dropped from S&P Global BMI Index	23-05-22	CI
Providence Equity LLP completed the acquisition of Hyve Group Plc.	23-05-21	CI
Hyve Group says takeover sanctioned by court	23-05-18	AN
Hyve Set to Delist in London as Court Sanctions Heron UK Takeover	23-05-18	MT
Goldplat nine-month operating profit falls	23-05-05	AN
Trident Royalties notes "positive" quarter	23-05-03	AN
FTSE 100 Closes Down 0.3% as Economic Outlook -2-	23-04-25	DJ
Banks shares fall as earnings disappoint	23-04-25	AN
Providence Equity raises Hyve takeover bid for "final" time	23-04-25	AN
Sterling Considered Overbought, Could Move Lower -2-	23-04-25	DJ
Providence, Searchlight Capital Sweeten Takeover Bid for Hyve Group	23-04-25	MT
Ascential's consumer data unit draws interest from Apax, BC Partners - sources	23-04-05	RE
FTSE 100 Closes Higher, Lifted by Oil Stocks	23-04-03	DJ
UK Economy to Avoid Contraction in 2023, After 4Q GDP Upgrade, DB Says	23-04-03	DJ
M&G to oppose private equity bid for UK events group Hyve - FT	23-04-03	RE
Sterling May Stay Steady Versus Euro as Dollar Moves Dominate	23-04-03	DJ
Surge in oil prices benefits the commodity-heavy FTSE 100	23-04-03
Hyve Shareholder M&G Investments to Oppose Takeover by Providence Equity Partners	23-04-03	MT
M&G to oppose private equity bid for UK events group Hyve - FT	23-04-03	RE
M&G TO OPPOSE PRIVATE EQUITY BID FOR UK EXHIBITION GROUP HYVE -…	23-04-03	RE
Providence brings in Searchlight as partner for Hyve offer	23-03-31	AN

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Company Profile

Hyve Group plc is engaged in the event business that operates through EdTech & Commodities, Retail, Engineering & Manufacturing, RetailTech & FinTech, Asia and Eastern & Southern Europe segments. The EdTech & Commodities division includes the Bett portfolio, Africa Oil Week, Mining Indaba and the acquired the Company events. The Retail, Engineering & Manufacturing division comprises the manufacturing and engineering portfolio and the United Kingdom retail portfolio, which comprises Spring and Autumn Fair, Glee and the United Kingdom fashion portfolio which includes Pure and Scoop. The RetailTech & FinTech division comprises the Shoptalk, Retail Meetup and Fintech Meetup brands. Shoptalk and Groceryshop are two United States-based e-commerce events company and are focused on the retail and grocery segments respectively. The Asia division includes the Company's businesses in India and China. Eastern & Southern Europe division is comprised of the event portfolios in Turkey and Ukraine.

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Business Support Services

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