Cinven not planning to make an offer for Alpha Financial
Alpha Financial Markets Consulting
385.00p
17:15 14/06/24
Alpha Financial Markets tumbled on Wednesday as it said private equity firm Cinven is not planning to make an offer for the financial services company.
FTSE AIM 100
3,738.33
17:14 14/06/24
FTSE AIM All-Share
776.04
17:14 14/06/24
Support Services
11,310.80
17:05 14/06/24
The group confirmed at the beginning of May that it had been approached by two parties about a possible takeover.
It said at the time that it had received a "non-binding indicative proposal" from investment firm Bridgepoint Advisers about a potential cash offer.
It also said that Cinven was considering a possible offer, although no indicative offer proposal had been received.
Both parties had until the close of business on 29 May to announce a firm intention to make an offer or walk away.
At 1455 BST, the shares were down 8.2% at 390p.