Business
Final possible offer for ATG plc
FitzWalter Capital Limited has announced a final possible offer of 400 pence in cash per share for Auction Technology Group plc, valuing the company at a premium of approximately 48% to its undisturbed share price on January 2, 2026, which was 270 pence. This offer is final and will not be increased unless specific conditions are met, such as a competing offer or a recommendation from ATG's board for better terms. FitzWalter has not been granted due diligence access, which constrains their bidding ability. A decision on whether to make a firm offer is expected by February 2, 2026. Disclaimer*
About this update from Auction Technology Group Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\nTHIS IS AN ANNOUNCEMENT OF A POSSIBLE OFFER UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\"). THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE\nFOR IMMEDIATE RELEASE\n28 January 2026\nFitzWalter Capital Limited, \nfor and on behalf of funds and/or investment vehicles managed or advised by it (\"FitzWalter\")\nFinal* possible offer for Auction Technology Group plc (\"ATG\" or the \"Company\")\nOn 16 January 2026, FitzWalter announced that it was considering making an offer for the Company at a price of 400 pence in cash per ATG share (the \"Possible Offer\"). FitzWalter has not been granted access to due diligence and confirms that, as a result, the financial terms of the Possible Offer will not be improved or increased and are final*.\nThe Possible Offer values the entire issued and to be issued share capital of ATG at a premium of approximately 48 per cent. to the undisturbed ATG share price on 2 January 2026 of 270 pence. This premium is higher than the UK market median premia to the undisturbed share price, and equal to the UK market median premia to the 1-month VWAP1, provided to shareholders in bid situations over the last 3 years.\n \n\n\n\n\n \n\n\nUK Market Median Premia\n\n\nFinal* Possible Offer\n\n\n\n\n\n\nUndisturbed Share Price2\n\n\n36%\n\n\n48%\n\n\n\n\n1-Month VWAP3\n\n\n40%\n\n\n40%\n\n\n\n\n \n \n* The financial terms of the Possible Offer are final and will not be increased or improved except that FitzWalter reserves the right to increase the amount of the Possible Offer: (a) if the Board of ATG announces that it recommends or is minded to recommend an offer on better terms than the Possible Offer; (b) if there is an announcement on or after the date of this announcement of an offer or possible offer for ATG by a third party offeror or potential offeror; or (c) the Takeover Panel otherwise provides its consent, which will only be given in wholly exceptional circumstances.\n \nAndrew Gray, Partner at FitzWalter Capital, commented: \"It is uncont...