Providence Equity LLP offered to acquire Hyve Group Plc (LSE:HYVE) for approximately £360 million on February 21, 2023. The offer per share is £1.05 per share. As of March 15, 2023 Providence Equity LLP signed an agreement to acquire Hyve Group Plc (LSE:HYVE) from Strategic Value Partners, LLC and others for £1.08 per share. As of April 25, 2023 The offer price has been increased to £1.21 per share. Hyve's non-executive directors will resign from the board of Hyve upon completion of the Acquisition. The cash consideration payable for the Acquisition will be funded from equity financing drawn down from the Providence Equity Funds. Anti-trust clearance in the United States. As of May 3, 2023, The Scheme was approved by the requisite majority on a poll vote at the Court Meeting and The Scheme was approved by the requisite majority approved by shareholders in general meeting. The Scheme is expected to become effective in May 2023. As of May 5, 2023, The Scheme is expected to become effective in May 22, 2023. As of May 18, 2023, the Court has sanctioned the scheme of arrangement by which the recommended cash acquisition of the entire issued and to be issued share capital is being implemented. The Scheme will become effective upon the Scheme Court Order being delivered to the Registrar of Companies, which is expected to take place on May 22, 2023.
Nick Westlake, Stuart Ord, and Hugo Rubinstein of Numis Securities Limited, Nick Harper, and Khamran Ali of Goldman Sachs International acted as financial advisors to Hyve Group Plc. Barry Fishley, Christopher Marks, Marc Schubert, Marco Compagnoni, Murray Cox, Oliver Walker, Vadim M. Brusser, Neil Rigby, Ivor Gwilliams, Nafees Saeed, Hein Visser, Michael C. Naughton, Andrew Lauder, Thomas Weatherill and Kevin Donegan of Weil, Gotshal & Manges (London) LLP are providing legal advice to Providence Equity Partners L.L.C. and Macfarlanes LLP is providing legal advice to Hyve. Perella Weinberg UK Limited and Deutsche Bank AG, London Branch advised as financial advisor to Providence Equity LLP. BofA Securities acted as financial advisor to Providence Equity LLP. Moelis & Company UK LLP acted as financial advisor to Providence Equity LLP.

Providence Equity LLP completed the acquisition of Hyve Group Plc on May 22, 2023. The admission to trading of Hyve Shares on the London Stock Exchange's Main Market for listed securities was suspended.