The boards of directors of CF Exedra Bidco Ltd. and Loungers plc, on Thursday, announced that they have reached an agreement on the terms and conditions of a recommended acquisition by Bidco of the entire issued and to be issued share capital of Loungers.
Under the terms of the Acquisition, each Loungers Shareholder will be entitled to receive 310 pence in cash for each Loungers Share, with an alternative option to participate in an unlisted share alternative in respect of some or all of their Loungers Shares.
The Cash Offer values the entire issued, and to be issued, ordinary share capital of Loungers at about £338.3 million, and at an enterprise value of about £350.5 million.
CF Exedra Bidco Ltd. Is a newly formed company indirectly owned by funds and accounts managed or advised by affiliates of Fortress Investment Group LLC.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.