JTC agrees £2.3bn takeover by Permira

(Sharecast News) - Global fund administration platform JTC on Monday said it had agreed a £2.3bn takeover by private equity firm Permira, beating interest from rival Warburg Pincus. JTC shareholders would receive £13.40p a share, below Friday's closing price of £13.58. Shares in the company have surged from 897p on August 13 when Permira made its first offer.

Reporting by Frank Prenesti for Sharecast.com