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Bids, Mergers and Takeovers

Shawbrook says 340p final offer undervalues company

06 June 2017 07:17

Shawbrook Group said the 340p a share final cash offer from Marlin Bidco undervalued the company and its prospects, and advised shareholders to take no action.

Independent directors believed Shawbrook could continue to grow prudently over the medium term within its risk and return disciplines and achieve its upper quartile return on equity objectives.

"However market conditions in the near term remain competitive on risk and return dynamics and, as previously signalled, Shawbrook will need to maintain its disciplined approach to returns and risk over absolute quantum of originations in order to generate upper quartile returns for shareholders."

Marlin Bidco is a company jointly owned by funds managed or advised by Pollen Street Capital Ltd and funds advised by BC Partners LLP.

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