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Coast Capital rejects Apax Partners’ takeover bid for Kin & Carta

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Coast Capital Management, the second largest shareholder of Kin & Carta, has publicly rejected a £203 million ($246.5 million) takeover bid from Apax Partners funds via Kelvin UK Bidco. The offer, made on Friday, was deemed opportunistic and inadequate by the New York-based investment firm.

The proposed deal represented a 41% premium on a 110-pence per share takeover compared to the previous closing price. However, Coast Capital criticized the board’s decision, highlighting the strength of Kin & Carta’s management team and its top-tier talent pool. The firm expressed expectations of a significant revenue increase over the next two years, attributing this to an all-time high backlog.

Despite the ongoing discussions, Kin & Carta’s shares were down 0.2% at 107.20 pence at 1305 GMT on Friday. The London-listed digital-transformation consultancy firm is highly regarded for its best-in-class management team and top-tier talent pool, factors that Coast Capital believes will contribute to the company’s growth.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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