Innovation Group agrees to Carlyle takeover bid
Offer values firm at £499m.
Innovation Group has agreed to private equity firm The Carlyle Group's 40p per share takeover bid, which values the share capital of Innovation at approximately £499m.
According to Carlyle the offer represents a premium of 13.5% of Innovation's closing price per share on 27 August 2015, the latest applicable date prior to the announcement by Innovation that it was in talks with Carlyle, and a 22.9 multiple of its earnings per share for the twelve months ended 31 March 2015.
Meanwhile, Innovation
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