Advent International recently considered making an offer for JTC, the London-listed fund administrator, in a move that could have intensified competition among private equity bidders. However, Advent has paused its work following a sharp rise in JTC’s share price, sources told Reuters.
JTC, valued at about £2.3 billion ($3.1 billion), has already drawn bids from Warburg Pincus and Permira, with both firms submitting proposals in recent weeks. The company confirmed it is in talks with both suitors after rejecting earlier offers, while UK takeover rules give Permira until September 26 and Warburg until October 10 to make firm offers or walk away.
Shares in JTC have surged around 15% in the past five days, boosted by takeover speculation. Despite the interest, the company reiterated it remains on track to meet its target of doubling revenue and profits by 2027 ahead of schedule, after reporting strong first-half growth.
Source: Reuters
