The billionaire who is the biggest shareholder in Hargreaves Lansdown has said he is “watching with interest” after the wealth manager he co-founded rejected a £4.7 billion bid from a private equity consortium.
Peter Hargreaves, 77, owns about a fifth of the FTSE 250 company, making him a key player in any takeover who could make or break a deal for Britain’s biggest DIY investment platform.
He refused to comment on whether he supported the decision made by the board to reject a 985p-a-share approach from a group of joint bidders including CVC, the private equity firm, and a buyout-focused subsidiary of the Abu Dhabi Investment Authority. “I really feel at this point in the proceedings that anything I say could be completely misconstrued,” Hargreaves