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ARGREAVES LANSDOWN, the savings platform, is keen on keeping its customers informed about which UK stocks to keep a close eye on. Here's one they should definitely be paying attention to: Hargreaves Lansdown.

In the last few days, the stock had ticked up amid increasingly frenetic rumours that it had attracted interest from at least one potential bidder.

After the market close yesterday, a consortium comprising CVC Capital Partners,

Nordic Capital and funds managed by the Abu Dhabi Investment Authority confirmed it had made an offer of 985p-a-share in late April which was rejected by the Hargreaves Lansdown board.

The trio were, they said, contemplating a further offer.

From its trough of about 700p, shares in Hargreaves Lansdown had spent this week hovering around 930p, giving the company a market valuation of about £4.25bn. Under Dan Olley, its newish chief executive, it has outlined plans to invest more heavily in technology and has been rewarded with a rise in assets under administration to a record £149.7bn.

Sources tell me that at least one of the consortium members may struggle to commit to an offer worth more than £10 a share.

Critical to the prospect of a deal, too, will be the views of Peter Hargreaves, the co-founder and still holder of a roughly 20 per cent stake. Any bidder would be unwise to take his assent for granted.

(c) 2024 City A.M., source Newspaper