21 March 2018

Sherwood looks to go private

29 April 2003  |  2147 views  |  0 Sherwood looks to go private

Sherwood International, the UK-based provider of software for the global insurance industry, says it is talking with private equity houses about raising financing for a management buy-out.

In a statement, the company says that "in common with many other smaller listed software companies, Sherwood has received a number of informal approaches over the past months from private equity houses potentially interested in taking the company private or providing other forms of equity finance to support Sherwood's growth strategy".

The board of the company has authorised the executive team to explore financing for a possible management buy-out.

The company asserts that one outline proposal has recently been received at a possible offer price of 105 - 110 pence per Sherwood share.

By mid-afternoon, Sherwood's share price was trading at 102.5 pence, 3.5% up from the previous day's close of 99 pence, and way up on the year low of 37.5 pence.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

LSE to launch new 'hybrid' market for mid-cap stocks

LSE to launch new 'hybrid' market for mid-cap stocks

29 April 2003  |  4484 views  |  0 comments
Maia Holdings wins 75% support for Rolfe & Nolan offer

Maia Holdings wins 75% support for Rolfe & Nolan offer

07 March 2003  |  2885 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
https://www.facebook.com/business/Visit www.vasco.com

Top topics

Most viewed Most shared
hands typing furiouslyBitcoin at 50,000 USD?
12466 views 0 | 5 tweets | 4 linkedin
Can banks be a threat to Big Tech?Can banks be a threat to Big Tech?
10487 views comments | 29 tweets | 39 linkedin
Indian fintech sector needs regulatory support to flourishIndian fintech sector needs regulatory sup...
10059 views comments | 10 tweets | 8 linkedin
BBVA tests 'invisible payments' technology at inhouse cafeBBVA tests 'invisible payments' technology...
9516 views comments | 13 tweets | 31 linkedin
RBS hatches plan to create digital challenger bankRBS hatches plan to create digital challen...
9326 views comments | 12 tweets | 22 linkedin

Featured job

Singapore (or Hong Kong)

Find your next job