Jefferies: Hargreaves Lansdown bid rejection does not end offer process

Further offers possible

Analysts at Jefferies have highlighted that while the board of Hargreaves Lansdown has rejected a recent private equity bid for the platform, the offer process is yet to be concluded.

Writing in a research note, analysts Julian Roberts, Tom Mills, Laura Gris Trillo and Fangfei Li highlighted the consortium led by CVC has until 5pm on 19 June to confirm whether or not it will make a further offer. Rejected by HL's board, the 26 April 985p per share offer was made at a 30% premium to the contemporary share price. However, on the back of the news, HL's share price has traded considerably higher, currently at 1,066p per share, according to data from Morningstar Direct. Hargreaves Lansdown rejects bid from private equity consortium The move has squeezed the short po...