Netherlands-headquartered Intertrust has received multiple M&A bids from unnamed “third parties”, it confirmed in a statement.
This comes a few weeks after Intertrust announced on 12 November 2021 it was exclusive discussions with CVC Capital Partners for a deal worth €1.63bn (£1.4bn, $1.9bn).
Intertrust said on 22 November that each of the parties has “submitted a conditional and non-binding proposal in relation to an indicative cash offer for all issued and outstanding shares of Intertrust at offer prices ranging up to €22 per share”.
The firm added that it was “carefully reviewing and evaluating all aspects of the conditional and non binding proposals” and the board “will continue to engage in discussions with all parties that have expressed their interest, ensuring a fair and thorough process with the aim to reach the best outcome for the company and all Intertrust’s stakeholders”.
It said: “The company underlines that the outcome of the review and discussions with these parties is uncertain and that there can be no assurance that an agreement will be reached with any party, or any public offer will be launched.”
According to Bloomberg, two of the respective potential acquirers are solution providers Apex Group and CSC Global.
The report said that they are considering making rival offers for Intertrust.
International Adviser has contacted Apex Group and CSC Global. Apex Group declined to comment, but CSC Global did not reply in time for publication.