Calm start to new trading week, financials prop up FTSE 100, Zurich given more time on Beazley bid and Apax walks away from Pinewood takeover

Pinewood share price nosedives as £575m takeover falls through

Shares in Pinewood Technologies Group PLC have dropped 33% today after a £575 million private equity takeover fell through on Friday. US-based Apax Partners said it would not progress with a prospective offer of 500 pence per share for the Birmingham-headquartered tech provider to car dealerships. Apax blamed ‘prevailing challenging market conditions’ as software valuations fall around the world against a backdrop of advancing AI tools which mor…

No bid for DMS firm Pinewood.AI coming, says private equity firm Apax

Private equity firm Apax Partners has announced it will not make an offer for dealer software company Pinewood Technologies, which trades as Pinewood.AI, three weeks after news broke of the potential takeover talks.

Calm start to new trading week, financials prop up FTSE 100, Zurich given more time on Beazley bid and Apax walks away from Pinewood takeover

Apax walks away from Pinewood bid citing ‘challenging market conditions’

UK private equity firm Apax has pulled the plug on its bid for motor software and DMS provider Pinewood. It said in the light of the prevailing “challenging market conditions” it did not intend to make an offer for the company. “Apax, and any person acting in concert with Apax, reserves the right to announce an offer or possible offer for the Company or make or participate in an offer or possible offer for the Company and/or take any other actio…

Pinewood Technologies shares sink as Apax calls off takeover

Pinewood Technologies shares sank on Monday after Apax Partners confirmed it does not intend to make an offer for the company, citing challenging market conditions. Apax had reportedly been lining up a 500p-per-share offer for Pinewood. Pinewood shares sank 29% to 307p on Monday after Apax called off the takeover. US private equity group Apax […] The post Pinewood Technologies shares sink as Apax calls off takeover appeared first on UK Investor …

Apax Partners abandons $792m Pinewood Technologies bid amid market uncertainty

Private equity firm Apax Partners has withdrawn its proposed $792m acquisition of UK automotive services and software provider Pinewood Technologies, citing challenging market conditions, according to a report by Reuters. The London-listed company, which provides a cloud-based platform for car dealerships and manufacturers, had seen its shares jump nearly 30% following Apax’s late January approach. Apax had indicated that a formal offer could be…