Oct 7 U.S. private equity firm HarbourVest
Partners said it had extended its $1.35 billion offer for
smaller rival SVG Capital, even after the British firm
accepted an offer for its investment portfolio from Goldman
Sachs and the Canada Pension Plan Investment Board.
Boston-based firm HarbourVest said on Friday that an
extension provides shareholders with additional time to consider
its "compelling and final" offer.
The acceptance period for HarbourVest's hostile bid was
extended to Oct. 13, the company said, adding that it had
received valid acceptances for 27.7 percent of SVG's shares by
HarbourVest launched its SVG bid on Sept. 12 at 650 pence a
share, saying it was taking advantage of a weaker pound,
following the Brexit vote, to snap up assets with good
short-term growth prospects.
SVG, which is winding itself down, rejected HarbourVest's
hostile approach last month saying it was talking to other
suitors who might offer a better price.
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by