(Reuters) -British private equity firm Permira said on Friday it has approached the board of JTC for a takeover proposal, sending the shares of the London-listed financial services firm soaring over 17%.
A Bloomberg report, citing people familiar with the matter, said the proposal will value JTC at around 2 billion pounds ($2.70 billion).
Permira and JTC declined to comment on the deal value.
There is no certainty that a firm offer will be made or what the terms are yet, Permira said in a statement.
JTC – which provides fund administration, corporate, and private client services globally – had a market valuation of 1.69 billion pounds as of Thursday’s last close, according to Reuters calculations.
JTC shares rose 17.3% to 1,150 pence after the announcement, their highest since September 2024.
Permira has until September 26 to make a firm offer for the Jersey-based company.
($1 = 0.7402 pounds)
(Reporting by Yamini Kalia and Raechel Thankam Job in Bengaluru; Editing by Sonia Cheema and Tomasz Janowski)
