Hargreaves Lansdown rejects takeover offer from CVC-backed consortium

(Sharecast News) - Hargreaves Lansdown confirmed on Thursday that it had rejected a 985p per share takeover offer from a consortium comprising of CVC, Nordic Capital and Platinum Ivy, which is a wholly-owned subsidiary of Abu Dhabi Investment Authority. It said: "The board confirms that it unanimously rejected the proposal on the basis it substantially undervalues Hargreaves Lansdown and its future prospects.

"The board is focused on executing its strategy and looks forward to updating the market at the full year results on 9th August 2024. In the meantime, shareholders are advised to take no action."