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IN BRIEF: Francisco offer for Blancco Technology nears completion

16th Oct 2023 10:35

Blancco Technology Group PLC - Bishop's Stortford, England-based secure data erasure - The takeover offer by funds managed by San Francisco, California-based private equity firm Francisco Partners is declared unconditional after reaching 75.1% acceptances. This follows the funds buying a further 9.35% stake in Blancco. Francisco Partners says it now will request that Blancco shares be delisted from the AIM market in London. Back in August, Blancco agreed to a 223 pence per share all-cash offer from Francisco Partners that valued the UK company's equity at GBP168.8 million.

Current stock price: 221.50p

12-month change: up 27%

By Tom Waite, Alliance News editor

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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