HarbourVest Partners’ offer for Absolute Private Equity has been extended until August 3 from July 26, Financial News reports. The move comes as the Swiss Takeover Board requires time to judge the legality of an offer by ACP Intermediate Acquisition.
ACP, a special purpose vehicle indirectly controlled by U.S. investor David Abrams, bid $18.60 a share for acquiring a 19.3% stake in Absolute. HarbourVest recently increased its offer for Absolute to $18.50 from $17.25, as Swiss-based asset manager Alpine Select attempted to block the deal by buying Credit Suisse’s 20% shareholding at $18.50 a share.
Click here for the story from Financial News.