Siris Capital has reached the final stage in its acquisition of Equiniti, following the regulatory green light from the FCA.
The watchdog approval comes after New York-based Siris Capital offered Equiniti shareholders 180p per share – a 31 per cent premium on the trading price of shares – back in April. The deal amounts to £673m in total.
Earth Private Holdings, a vehicle company for the deal created by Siris’ funds, is navigating the purchase.
US watchdogs granted the deal regulatory approval back in July, when Earth Private Holdings cleared the Hart-Scott-Rodino filing.
Speaking at the time of the offer, chair of Equiniti, Philip Yea, commented:
“The EQ board believes that the offer from Siris represents an attractive and certain value in cash today for EQ’s shareholders, reflecting the strength of EQ’s high-quality business and its future prospects in a still uncertain environment.”