Rosebank Industries in advanced talks for $3.05 billion acquisition
Rosebank Industries PLC on Monday revealed it is in ‘advanced discussions’ regarding the potential acquisition of two private equity-owned US-based businesses.
The London-based acquisitions vehicle is focused on industrial and manufacturing businesses whose performance Rosebank thinks it can improve, similar to FTSE 100 constituent Melrose Industries PLC.
Rosebank said the acquisition would be for a headline enterprise value of around $3.05 billion.
It said the potential transaction is in line with its acquisition criteria and would be funded via a combination of a fully underwritten equity issue of around £1.9 billion, about $2.59 billion, and new debt facilities.
The fundraise would be executed via a firm placing concurrent with a retail offer of up to £10 million for UK retail shareholders and investors.
The new deal would be a second for Rosebank since being formed and listing on AIM in July 2024. Back in August last year, Rosebank completed the $1.9 billion reverse takeover of Electrical Components International Inc, a St Louis, Missouri-based electrical manufacturing firm.
Rosebank said, that regardless if the potential transaction proceeds or not, it intends to complete its move to the London Main Market in the second quarter of 2026.
In line with AIM trading rules, shares in Rosebank Industries are suspended upon Monday’s announcement until a prospectus regarding the potential transaction has been published. Shares had traded 2.1% lower at 329.00 pence around 1000 GMT on Monday, before suspension.
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