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Successful defence of a client from hostile possible offers

12 September 2020

Numis acted as Sole Financial Adviser & Corporate Broker.

UK Mortgages Limited
Numis advised the UKML Board on responses to several unsolicited, private proposals received from M&G.

After repeated rejections, M&G chose to go public with a hostile possible all-cash offer, which was later increased.

Numis advised the UKML board on sector matters and valuation, the intricacies of the M&A and Takeover Code processes and appropriate response tactics as well as driving the shareholder interaction to source perspectives.

 

The Board put in place a robust defence in the interests of shareholder value and, ultimately, M&G advised the market that it would not proceed to make a firm offer

This represents an excellent example of Numis bringing to bear its M&A expertise, sector knowledge and shareholder connectivity to provide robust advice to a Board in a testing situation.

"The UKML board found the astute M&A advice and sector and shareholder insight provided by Numis to be invaluable as it defended against these unsolicited approaches and hostile possible offers.  The Numis team delivered expertly across multiple disciplines and supported the Board in a highly collegiate and collaborative manner”.

Chris Waldron Chairman, UK Mortgages Limited

Stuart Ord

Managing Director, M&A Advisory

Email Stuart

Our services

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Investment companies

Proactive advice combining in-depth research, distribution and execution

Equities

Sales & Research

We are the leading provider of in-depth, high quality research on UK listed companies

Trading and sales trading

The largest, most experienced Sales Trading and Trading teams covering UK equities

Investment companies

Proactive advice combining in-depth research, distribution and execution

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New York 575 Fifth Avenue, 25th Floor, New York, NY 10017 +1 212 277 7300

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© 2020 Numis Securities Ltd

Numis Securities Ltd is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 144822).

Numis Securities Inc is a registered US broker-dealer and Member FINRA / SIPC.

Numis Europe Limited trading as Numis is regulated by the Central Bank of Ireland.