Sanne in talks with Cinven over new 875p-a-share offer

Asset management services provider Sanne Group said it was in talks with Cinven after the buyout firm made a new 875p-a-share offer for the firm.

Sanne had previously rejected a £1.35bn proposal last month as too low, The current proposed offer would value Sanne at £1.42bn.

Cinven now has until July 9 to make a firm offer, Sanne said on Friday, adding that there can be no certainty that any firm offer will be made or about its terms.