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Sanne Says Received Fifth Non-binding Proposal From Cinven

Sanne Group plc (SNN.L) confirmed Friday that it has received a fifth unsolicited, non-binding proposal from Cinven regarding a possible all cash offer at a price of 875 pence per share.

Sanne confirmed it has consequently decided to enter into discussions with Cinven and therefore the Company has requested an extension to the date by which Cinven is required either to announce a firm intention to make an offer for Sanne or to announce that it does not intend to make an offer. Such announcement must now be made by not later than 5.00pm on 9 July 2021. The deadline can be extended by the Board of Sanne, with the consent of the Takeover Panel.

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