DWF, Manchester law giant, in £342m takeover talks

Manchester-headquartered international law firm DWF Group plc confirmed media speculation that it is in discussions with Inflexion Private Equity Partners LLP regarding a possible cash takeover offer for DWF worth about £342 million.

Under the terms of the proposal DWF shareholders would receive £1 per share comprising cash of 97p and a 3p dividend for the six month period ended April 30, 2023.

The offer represents a premium of 52.7% to DWF’s Friday closing price.

“DWF has confirmed to Inflexion that should a firm offer be made by Inflexion on the financial terms of the proposal, it would be minded to unanimously recommend it to DWF shareholders, subject to the agreement of other terms and conditions …” said DWF.

“Discussions between DWF and Inflexion are ongoing and there can be no certainty that an offer will be made, even if the pre-conditions are satisfied or waived.”