A consortium made up of Dalmore Capital and Equitix Investment Management have made a £1.4bn (€1.6bn) offer for John Laing Infrastructure Fund (JLIF).
JLIF said it is in talks with the consortium regarding the possible 142.5p a share cash offer for JLIF. The amount being offered represents a 20.6% premium to JLIF’s last closing price.
JLIF said in a statement that it would recommend the acceptance of the offer to shareholders if made on the same terms. There can be no certainty that any offer will be made, it added.
In line with UK takeover rules, the consortium has until 5pm London time on 13 August 2018 to announce a firm intention to make an offer or walk away.
Independent fund management company Dalmore in 2014 launched a £500m public-private partnership fund on behalf of the UK’s Pensions Infrastructure Platform and also helped attract a number of pension funds to the £4.2bn Thames Tideway Tunnel project.