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Int'l Personal Finance backs revised offer from BasePoint, extends PUSU deadline
(Sharecast News) - The board of International Personal Finance announced on Wednesday that it has given its backing to a revised proposal from BasePoint Capital, but pushed the takeover deadline to four weeks' time. BasePoint, which in September offered 235p per share in cash along with the right to retain an interim dividend of 3.8p per share, has now revised its offer to include the final IPF dividend up to a maximum of 9p per share - expected to be confirmed at the company's full-year results in February 2026.
IPF said the board "carefully considered" the revisions with its advisers and believes that the offer "is at a value that the board would be minded to recommend unanimously to IPF shareholders", should a firm intention to make an offer be announced on such terms.
IPF confirmed that BasePoint has obtained both internal and board approvals for the deal, and has completed its due diligence, with the only remaining pre-condition being the raising of finance for the offer.
"BasePoint has asked the board for more time to bring this financing to a conclusion," IPF said.
After a request by IPF to the Takeover Panel, BasePoint now has until 1700 on 17 December to either announce a firm intention to make an offer or walk away, under so-called 'put up or shut up' rules.
Shares were up 1.2% at 206.5p by 1340 GMT.
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