Providence’s Bid to Privatize UK Event Company Hyve Deemed Too Low

2月 28, 2023

Recently, the US private equity firm, Providence Equity, has approached the London Stock Exchange-listed event company Hyve Group with a proposal to take the company private. Providence has offered a bid of 105 pence per share, which values Hyve at approximately £306 million.
Citigroup has expressed that Providence’s acquisition offer may undervalue Hyve’s worth. The confirmation of a cash offer has further validated this assumption, as the price of 105 pence per share, while higher than the previous bid of 101 pence per share, is considered “especially cheap” …