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There seems a good chance that Marlin Bidco’s attempt to take banking group Shawbrook (SHAW) private will fail unless the offer price is raised. The suitor has only got support (including its existing stake) for 45.1% of the issued share capital, below the 50%
(plus one share) required threshold for the takeover to succeed.
Marlin Bidco is the acquisition vehicle for Pollen Street and BC Partners. The offer is open until 26 May. A further extension, if necessary, is likely to be announced on 30 May.
It is offering 330p per share in cash. Shawbrook’s shares are presently trading at 339.44p, so the market is clearly expecting Marlin to table a higher bid in order to win over investors.
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