AA Plc (LON: AA.) accepts takeover bid from TowerBrook and Warburg Pincus

1 min read | November 26, 2020 11:41 PM AEDT | By Team Kalkine Media

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AA Plc (LON: AA.) has accepted the £219 million takeover bid from investors TowerBrook and Warburg Pincus.

AA shareholders shall be entitled to receive 35 pence in cash for each AA share held.
The newly incorporated entity of two investors, TowerBrook and Warburg Pincus-Basing Bidco Limited, would also be injecting £378 million of new funds in AA business.
Bidco has stated that it recognises the core strengths of the AA present in its iconic brand and market-leading positions along with the skilled and devoted workforce.
On 26 November 2020, the stocks of the company traded lower by 0.88% from its previous closing, hovering at around GBX 33.75 at 12:11 PM GMT+1.

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