US firm HarbourVest raises the stakes in SVG Capital takeover but makes no formal bid

Takeover target SVG Capital confirmed that US raider HarbourVest had made an improved proposal for the assets of its business but had made no formal bid.
Last month HarbourVest made a hostile cash bid for the whole of private equity firm SVG worth 650p a share. 
On Saturday it came back with an improved proposal for just the assets, thought to top 680p a share.
However SVG said this did not constitute a formal bid: ‘The board continues to believe that HarbourVest’s final cash offer of 650p per share undervalues the company.’
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9 October 2016 in Business, Views: 58
Source: Daily Mail

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