CapVest was busy reminding people how BGH didn’t mention the UK firm’s (higher) offer in its bidder’s statement to Virtus shareholders but, as it turned out, BGH had done nothing wrong.
Right now, BGH’s got a 19.99 per cent stake (which it would obviously vote against a CapVest scheme) but CapVest’s got the higher offer, though there’s some tax nitty gritty for shareholders to think about.
Minds are also turning to how Virtus’s sizeable shareholders Paradice Investment Management and Yarra Capital management would vote.
If either was to choose to vote down the CapVest scheme, they would give BGH enough firepower to block at least the scheme component of CapVest’s dual-mode bid.
Listed debt collector Pioneer Credit is understood to be close to capping off a $45 million-plus deal to buy a debt collection portfolio associated with listed peer Collection House.