Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Equals extends deadline again for talks with Madison Dearborn Partners
(Sharecast News) - Equals Group updated the market on its ongoing strategic review on Wednesday, announcing an extension of the 'put up or shut up' (PUSU) deadline as part of its offer period. The AIM-traded company initiated the review on 1 November to explore various strategic options.
As part of the process, Equals contacted a number of potential counterparties, including Madison Dearborn Partners, to assess whether they could propose a strategy that would create more value for Equals' shareholders than pursuing an independent strategy.
The announcement of the review triggered an 'offer period' under the Takeover Code, indicating the possibility of an offer for the entire issued and to be issued share capital of Equals Group.
It said its current trading remained in line with the board's expectations, adding that it was confident in its long-term growth prospects.
Initially, Madison Dearborn Partners was required to announce its intention by the PUSU deadline of 1700 GMT on 29 November.
However, that deadline was extended to 1700 GMT on 27 December, and further extended to the same time on 24 January.
Equals said it was engaged in ongoing discussions with Madison Dearborn Partners, and so had requested an extension of the PUSU deadline from the Takeover Panel.
The panel granted the request, and Madison Dearborn Partners was now required to announce its intentions by 1700 GMT on 21 February.
Equals said the revised PUSU deadline could be further extended at Equals Group's request, with the consent of the Takeover Panel.
"There can be no certainty either that an offer will be made nor as to the terms of any offer, if made," the board said in its statement.
At 1313 GMT, shares in Equals Group were down 0.61% at 121.26p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.