Science in Sport PLC - London-based sports nutrition company - Confirms it has reached agreement on the terms of a previously-announced takeover offer from bd-capital Partners Ltd, valued at 34 pence per share in cash. This is around a 24% premium to Science in Sport’s closing price of 27.5p per share on Tuesday, and values Science in Sport at around £82.3 million on a fully diluted basis.
bd-capital believes its ‘operator-led investment model can accelerate Science in Sport’s transition into its next phase of profitable growth’. With its ‘extensive experience in scaling up consumer health and sports-related businesses’, bd-capital is ‘confident’ in being able to unlock Science in Sport’s ‘growth potential’.
Science in Sport intends to recommend that shareholders vote in favour of the acquisition at an upcoming general meeting.
Current stock price: 32.50 pence, up 1.6% in London on Thursday afternoon
12-month change: up from 15.75p
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