Investing.com — Pinewood Technologies Group PLC (LON:) shares rose 4% on Wednesday following the company’s acceptance of a £739 million takeover offer from Ridgeview Partners.
Under the recommended acquisition, Pinewood shareholders will receive £4.48 in cash per share, valuing the UK-based automotive software provider at approximately £545 million on a fully diluted basis. The offer represents a 43% premium to Pinewood’s closing share price of 314 pence on July 23, 2026, the last trading day before the offer period commenced.
The cash offer also represents a 53% premium to the one-month volume-weighted average price of 293 pence per share and a 64% premium to the three-month volume-weighted average price of 274 pence.
Ridgeview Partners, a San Francisco-based technology private equity firm, is acquiring Pinewood through its newly formed entity U.K. Piston Bidco Limited. The transaction will be implemented via a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.
As an alternative to the cash offer, eligible shareholders may elect to receive unlisted limited liability company interests in a rollover vehicle, subject to certain conditions and a maximum aggregate value of £250 million.
Ian Filby, chairman of Pinewood, stated that the board believes the transaction provides shareholders the ability to realize their investment in cash at a material premium while offering an opportunity to participate in future growth through the rollover alternative.
Pinewood’s board has unanimously recommended shareholders vote in favor of the scheme. The company has received irrevocable undertakings from shareholders representing approximately 48.68% of its issued share capital to support the acquisition.
The transaction is expected to become effective in the second half of 2026, subject to shareholder approval and regulatory clearances. Following completion, Pinewood will be delisted from the London Stock Exchange and re-registered as a private limited company.