The Consortium of CVC Capital Partners Limited, Nordic Capital XI Delta, SCSp and Platinum Ivy B 2018 Rsc Limited made an offer to acquire Hargreaves Lansdown plc (LSE:HL.) for £5.4 billion on April 26, 2024. Under the terms, the Consortium approached the Board of Hargreaves Lansdown at 985 pence per Hargreaves Lansdown share. The Board is focused on executing its strategy and looks forward to updating the market at the full year results on August 9, 2024. In the meantime, shareholders are advised to take no action. As of April 26, 2024, the Board confirms that it unanimously rejected the Proposal on the basis it substantially undervalues Hargreaves Lansdown and its future prospects. As of July 18, 2024, bid price increase to 1,140 pence per share from 985 pence per share. The Revised Proposal is subject to a number of pre-conditions, including completion of satisfactory due diligence and agreement of definitive transaction documentation. The Board of Hargreaves has confirmed to the Consortium that the Revised Possible Cash Offer is at a value that the Board would be willing to recommend unanimously to Hargreaves Lansdown shareholders. As of June 18, 2024, Hargreaves said its board would support the revised offer.

Kunal Gandhi, Rob Williams, Graham Marchant and Richard Locke of Fenchurch Advisory Partners LLP acted as financial advisor and Equiniti Limited acted as transfer agent to Hargreaves Lansdown. Mark Sorrell, Nick Harper, James Lucas and Cara Pazdon of Goldman Sachs International acted as financial advisor to the Consortium. Alisdair Gayne, Adrian Beidas, Richard Bassingthwaighte and Callum West of Barclays Bank PLC, Charles Farquhar, Daniel Werchola, Derek Shakespeare and Rajesh Iyer of Numis Securities Limited acted as financial advisor to Hargreaves Lansdown. Gillian Sheldon, Ben Grindley, Adrian Doyle and Nishil Bhagani of Morgan Stanley & Co. International plc acted as financial advisor to Independent Board of Hargreaves Lansdown.