Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Sanne Group plc
  6. News
  7. Summary
    SNN   JE00BVRZ8S85

SANNE GROUP PLC

(SNN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

UK's Sanne agrees to sit down with Cinven after fund makes higher offer

06/11/2021 | 04:53am EDT

(Reuters) - Britain's Sanne Group said on Friday it will enter into buyout talks with Cinven after the private equity firm made a sweetened all-cash offer of 1.42 billion pounds ($2.01 billion) for the asset management services provider.

Sanne said the unsolicited offer of 875 pence per share from Cinven was the fifth such proposal made by the fund. The company in May rejected a 1.35 billion pounds offer from the investment group and said it undervalued Sanne.

Cinven's latest offer represents a premium of about 13% to Sanne's last closing price of 772 pence. Its London-listed stock was around 12% higher in morning trade and hit a record high of 868 pence, but was still shy of the offer price.

Consolidation and private equity deals in Britain, Europe's biggest M&A market, have risen in recent years. Sanne is one of the latest additions to takeover targets, joining firms such as John Laing , Equiniti and Spire.

Sanne provides outsourcing services to nearly 2,000 clients, varying in type from private debt to capital markets and real estate. It recorded a 12% rise in earnings last year as it won new businesses and made several acquisitions.

However, its shares had lost nearly 10% in value.

The company was likely put under pressure by shareholders to consider a bid after the initial approach from Cinven was made public, Liberum analyst James Allen said in a note.

"We ... believe that the board will recommend the bid from Cinven and that the takeover will go through," Allen added.

Jersey-based Sanne said Cinven now has until July 9 by which it needs to either announce an intention to make a firm offer or back out from buying the company.

Cinven, whose investments are focussed in North America and Europe, declined to provide details beyond those given by Sanne.

($1 = 0.7052 pounds)

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Subhranshu Sahu and Kim Coghill)

By Pushkala Aripaka


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EQUINITI GROUP PLC 0.00% 182 Delayed Quote.64.86%
JOHN LAING GROUP PLC 0.10% 401 Delayed Quote.20.60%
SANNE GROUP PLC -0.48% 830 Delayed Quote.34.74%
All news about SANNE GROUP PLC
06/16FORM 8.3 - THE VANGUARD GROUP, INC.  : Sanne Group plc
DJ
06/16PENTWATER CAPITAL MANAGEMENT LP  : - Form 8.3 - Sanne Group Plc
PR
06/14PENTWATER CAPITAL MANAGEMENT LP - CO : Form 8.3 - Sanne Group Plc
PR
06/14PENTWATER CAPITAL MANAGEMENT LP  : - Form 8.3 - Sanne Group Plc
PR
06/14FORM 8.3 - THE VANGUARD GROUP, INC.  : Sanne Group plc
DJ
06/14SANNE  : RBC Downgrades Sanne To Sector Perform Trom Outperform, Increases PT
MT
06/11UK's Sanne agrees to sit down with Cinven after fund makes higher offer
RE
06/11FTSE 100 posts best week in over a month as economy strengthens
RE
06/11SANNE  : and Cinven enter talks after £1.42bn bid
AQ
06/11SANNE  : Begins Talks with Cinven on Fifth Takeover Approach
MT
More news
Financials
Sales 2021 196 M 272 M 272 M
Net income 2021 27,6 M 38,4 M 38,4 M
Net Debt 2021 44,1 M 61,4 M 61,4 M
P/E ratio 2021 47,3x
Yield 2021 1,83%
Capitalization 1 332 M 1 856 M 1 854 M
EV / Sales 2021 7,03x
EV / Sales 2022 6,15x
Nbr of Employees 1 900
Free-Float 97,4%
Chart SANNE GROUP PLC
Duration : Period :
Sanne Group plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SANNE GROUP PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 805,56 GBX
Last Close Price 830,00 GBX
Spread / Highest target 11,4%
Spread / Average Target -2,95%
Spread / Lowest Target -20,5%
EPS Revisions
Managers and Directors
NameTitle
Martin Charles Schnaier Chief Executive Officer & Executive Director
James Jonathan Ireland Chief Financial Officer & Executive Director
Rupert Hugo Wynne Robson Non-Executive Chairman
Marie Measures Chief Technology Officer
Kevin Lazeris Group Head-Compliance
Sector and Competitors
1st jan.Capitalization (M$)
SANNE GROUP PLC35.39%1 887
BLACKROCK, INC.20.49%132 599
BROOKFIELD ASSET MANAGEMENT INC.16.82%75 811
UBS GROUP AG16.84%57 091
BANK OF NEW YORK MELLON CORPORATION (THE)20.71%44 851
T. ROWE PRICE GROUP, INC.29.38%44 434