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Kin & Carta PLC on Thursday said it and a group of Apax Partners LLP funds have agreed on an increased cash offer which values it at £258 million. Shares in Kin & Carta were trading 8.3% higher at 112.00 pence each that morning in London. In mid-September, the London-based business software consultancy said it and the funds, advised by London-based private equity investor Apax, had agreed on a cash offer valuing its share capital at 110 pence per share. On Thursday, however, Kin & Carta said the parties have reached agreement on an ‘increased and final’ offer, with shareholders now entitled to receive 120p per share. Kin & Carta said this new bid values its entire share capital at approximately £220.3 million on a fully diluted basis, and implies an enterprise value of £258 million. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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