KKR Revises £1.3B Bid For Smart Metering

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KKR Revises £1.3B Bid For Smart Metering

In a riveting twist, KKR & Co. LP has strategically pivoted its acquisition strategy for Smart Metering Systems PLC, steering away from a scheme of arrangement to a bold takeover offer. The abrupt shift comes in response to a shareholder’s ominous signal of disapproval, threatening to derail the colossal deal.

KKR Revises £1.3B Bid For Smart Metering : Unveiling the Takeover Dynamics

KKR, in a bid to bolster the certainty of execution, is now wielding a recommended takeover offer, compelling shareholders to recalibrate their expectations. Under the revamped plan, the investment giant pledges to offer Smart Metering Systems shareholders a tantalizing 955 pence per share, mirroring the initial proposal embedded in the now-discarded arrangement scheme announced back in 2023.

The Liquidity Gamble: KKR’s Warning

In a high-stakes move, KKR vows to delist Smart Metering Systems from London’s alternative investment market if it secures a triumphant grasp on at least 75% of the company’s shares. A subsequent re-registration as a private limited company looms on the horizon, but with a chilling caveat: non-tendering shareholders could face a liquidity squeeze.