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Equiniti agrees to $949 million take private deal

By Reuters

LONDON – Equiniti Group Plc, a British administration services and payments specialist, said on Thursday it had agreed to be taken over by a new company backed by private equity firm Siris Capital in a 673 million pound ($949 million) deal.

Equiniti said the deal, priced at 180 pence per share, represented a 56% premium to its closing stock price on Feb. 8 and directors intended to unanimously recommend approval of the deal.

The acquisition will need approval via a court-sanctioned scheme, the company said in a statement.

($1 = 0.7090 pounds)