(Reuters) -Britain’s International Personal Finance on Wednesday said it is in advanced talks with U.S.-based specialty finance group BasePoint Capital over a 223.8 pence per share potential takeover offer.
The proposal, a 25% premium to IPF’s closing share price on July 29, includes a cash consideration of 220 pence per share and interim dividend of 3.8 pence.
IPF’s board will recommend the deal to its shareholders, which values the British financial service company at 490.3 million pounds ($654.50 million), if a firm offer is made.
($1 = 0.7491 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Mrigank Dhaniwala and Janane Venkatraman)
