The Law Society Gazette reports
A private equity buyout of DWF, the biggest law firm on the stock market, moved a significant step closer this morning. In a statement to the London Stock Exchange, DWF and prospective acquirer Inflexion Private Equity Partners announced that they have reached agreement on an all-cash offer that will be put to shareholders.
Under the terms of the proposal, flagged when it emerged the pair were in talks earlier this month, DWF shareholders would receive 100p per share in return for the entire issued share capital of the company. This would include a cash payment of 97p per share and a special dividend of 3p per share after the deal becomes effective.
DWF was the largest legal practice to float in this country when it went public in 2019. The move raised around £95m through the sale of 61.5m new shares.
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