21 June 2024

Hargreaves Lansdown board has backed a £5.4bn takeover bid

The board unanimously backed the revised offer, which is likely to lead to the exit of another major UK company from the FTSE 100. The offer, which is worth £11.40 per share in cash, comes from a consortium of US private equity firm CVC, Denmark's Nordic Capital and a subsidiary of the Abu Dhabi Investment Authority (ADIA).


Other recent departures from the FTSE 100 include CRH, which moved its main listing to the US last year, and Anglo-German company Tui, which recently moved its main listing from London to Frankfurt.

Bristol-based Hargreaves Lansdown is the UK's largest retail investment platform, managing and administering over £150 billion of assets for more than 1.8 million customers. However, competitors such as AJ Bell Plc and Interactive Investor have been gaining market share in recent years thanks to lower fees.

Hargreaves Lansdown was founded in 1981 by Peter Hargreaves and Stephen Lansdown. Although both have sold a large proportion of their shares in recent years, they still together own around a quarter of the company, making them among the richest individuals in the UK.