Tribal shares jump as accepts revised takeover offer from Main Capital

Tribal Group PLC on Monday said it has accepted an improved takeover offer from Thames Bidco Ltd, a company controlled by funds and accounts managed or advised by Main Capital Partners BV.

The Sheffield, England-based educational software and services provider said the offer was raised by 22% to £231.2 million from the £189.3 million that Main Capital had offered earlier in September. The new offer is equivalent to 105 pence per Tribal share.

Tribal shares jumped 19% to 100.00p each on Monday morning in London, giving it a market capitalisation of £212.2 million.

A general meeting for shareholders to approve the proposed takeover will be held on Friday.

Tribal expects the first distribution of increased net cash proceeds to shareholders within 30 days of the liquidators being appointed, anticipated in the first quarter of 2027. The final distribution is expected within six months of completion of the proposed sale, anticipated in the second quarter of 2027.

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