(Alliance News) - Hargreaves Lansdown PLC, the personal investment platform, is expected to extend talks with a consortium of private investors who have proposed buying the company in a deal worth about GBP5 billion, Sky News reported on Tuesday.

Sky said the Bristol, England-based wealth management platform is in detailed talks with the consortium, led by CVC Capital Partners, about a revised offer that would incorporate a final dividend potentially worth more than 40 pence per share.

An announcement that the two sides are working towards a recommended bid is expected ahead of a Takeover Panel deadline on Wednesday, Sky said.

An extension is expected to give the consortium, which also includes an Abu Dhabi state fund, a week or two longer to finalise a formal offer, according to insiders.

The precise price of a revised offer was unclear on Tuesday, although market sources suggested that including the final dividend, it could be worth in the region of 1050p per share or more, Sky said.


Hargreaves Lansdown said last month that it had rejected a 985p per share offer from a consortium on the grounds that it "substantially undervalued" the company.

The consortium which made the proposal includes CVC Advisers Ltd, Nordic Capital XI Delta, and Platinum Ivy B 2018 RSC Ltd, a wholly-owned subsidiary of Abu Dhabi Investment Authority.

Shares in Hargreaves Lansdown fell 2.0% to 1.052.00p each in London on Tuesday.

By Jeremy Cutler, Alliance News reporter

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