Financial services-focused consulting firm Alpha FMC’s leadership team has approved a £626m takeover bid from private equity firm Bridgepoint.
The offer of 505p per share represents a 51% premium on Alpha FMC’s closing price on 30 April, the day after the offer was made. It will be put to shareholders at the company’s general meeting, requiring 75% approval for the deal to proceed.
In an acquisition statement on its website, Alpha FMC described Bridgepoint as “strongly positioned to support Alpha FMC with the next phase of its growth, providing both access to capital for further growth and continuity for Alpha FMC’s clients, employees and other stakeholders”.
Last month, Alpha revealed it had received multiple expressions of interest and proposals, with reports indicating that both Bridgepoint and rival private equity firm Cinven had approached the company regarding a potential deal.
Alpha FMC employs over 900 consultants and has offices in North America, the UK, Europe and APAC, according to its website.
