JTC in early stage takeover talks with Permira, Warburg Pincus

(Sharecast News) - Fund solutions provider JTC surged on Friday after confirming it has received a preliminary and conditional non-binding takeover proposal from private equity firm Warburg Pincus and a revised offer from Permira. The possible offer from Warburg Pincus follows two earlier non-binding proposals that were unanimously rejected on 5 September and 11 September 2025.

In a statement in response to press speculation, JTC said its board is currently in "early-stage discussions" with Warburg Pincus.

The company also said it was in early-stage talks with Permira about a revised possible takeover offer.

JTC announced last month that it had rejected two proposals from Permira. Since then, it has received and rejected a third offer on 30 August but is now in talks about a fourth revised offer received on 9 September.

Under UK takeover rules, Warburg Pincus has until 10 October to make a firm offer or walk away, while Permira has until 26 September.

At 1555 BST, JTC shares were up 14% at 1,340p.