In Private Equity News UK, Inflexion Private Equity Partners LLP has been given permission by a London court to acquire DWF, the UK’s largest listed law firm, for £342 million.
The acquisition is expected to be completed in the coming weeks, subject to approval by DWF’s shareholders. Inflexion’s offer of 100p per share represents a 72% premium on DWF’s three-month average share price, excluding the offer period.
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DWF first announced the potential takeover by Inflexion in July 2023, and the board of the law firm has since backed the deal. The acquisition will take DWF into private ownership, after its initial public offering (IPO) in 2019.
The move to private hands is expected to allow DWF to focus on long-term growth, rather than the short-term pressures of the stock market.
The acquisition will also allow Inflexion to invest in DWF’s technology and lateral hiring, as well as make transformative acquisitions in the legal sector.
Breaking Private Equity News UK – Inflexion and DWF Overview
Inflexion Private Equity Partners LLP has won the right to buy out DWF, the UK’s largest publicly listed law firm, for £342 million.
The acquisition was approved by a London court, giving Inflexion the green light to proceed with the takeover.
Private Equity News UK
DWF is a global law firm with offices in Edinburgh and Glasgow, and a strong presence in the UK legal sector. The firm provides a range of business services, including legal, professional, and consulting services to clients across various industries.
Inflexion Private Equity Partners is a UK-based private equity firm that invests in high-growth businesses across various sectors. The firm has a proven track record of investing in successful companies, and its expertise in the legal sector makes it an ideal partner for DWF.
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The acquisition of DWF by Inflexion Private Equity Partners is a significant development for the UK’s legal sector.
The deal will create a new partnership that will combine the strengths of both firms, and provide clients with a broader range of services and expertise.
The takeover of DWF by Inflexion Private Equity Partners was approved by the London Stock Exchange, and the Solicitors Regulation Authority. The deal is expected to be completed by the end of the year, subject to regulatory approval.
The Buyout Offer
Offer Details
In September 2023, Inflexion Private Equity Partners LLP received approval from a London court to acquire DWF, a listed law firm, for a cash payment of £342 million.
Under the terms of the acquisition, each DWF shareholder will be entitled to receive 100 pence per share. A partial securities alternative will be available to external shareholders.
Implications for Stakeholders
The buyout offer will result in DWF’s delisting from the London Stock Exchange and its transformation into a private ownership.
The firm’s employees and stakeholders will be impacted by the management changes that will likely follow the acquisition. Inflexion’s investment in DWF may lead to technology upgrades, lateral hiring, and transformative acquisitions.
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Market Response
The buyout offer represents a premium of 23% over DWF’s share price before the announcement of the takeover deal.
The share prices of the law firm rose by 20% following the announcement of the offer. Investors reacted positively to the news, with some analysts predicting that the cash payment and the firm offer would result in a higher valuation for DWF.
Legal Perspective
The buyout offer received approval from a London court after the Solicitors Regulation Authority (SRA) confirmed that the terms of the acquisition were in line with the regulatory requirements.
The court’s decision was based on the fairness of the cash payment and the securities alternative offered to external shareholders. The buyout will result in Inflexion acquiring a majority stake in DWF.
Private Equity News UK
In conclusion, the buyout offer made by Inflexion Private Equity Partners LLP to acquire DWF for a cash payment of £342 million will result in the transformation of the listed law firm into a private ownership.
The offer represents a premium of 23% over DWF’s share price before the announcement of the takeover deal.
The acquisition will lead to management changes, technology upgrades, lateral hiring, and transformative acquisitions. The buyout offer received approval from a London court and the SRA, confirming that the terms of the acquisition were in line with the regulatory requirements.
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