Waterland gets deadline to confirm Gamma Communications offer plans

The UK Takeover Panel has set an October 13 deadline for Waterland Private Equity Investments BV to clarify its intentions regarding Gamma Communications PLC.

The panel said it has ruled that Netherlands-based Waterland must announce either a firm intention to make an offer for Gamma, or that it does not intend to make an offer, by 1700 BST on October 13.

This deadline will no longer apply if another party announces a firm intention to make an offer for Gamma, it added.

London-based cloud communications and voice services provider Gamma had already accepted a £1 billion takeover offer from Epiris GP III Ltd funds earlier in September.

If the acquisition goes ahead, Gamma shareholders will receive 1,120 pence in cash per share, valuing its share capital at about £1.02 billion and implying an enterprise value of approximately £1.08 billion.

Shares in Gamma were 0.6% higher at 1,127.10p each late on Tuesday morning in London.

London-based private equity firm Epiris LLP had initially considered a joint offer with Providence Equity Partners LLP, which dropped out in June.

Subsequently, The Times reported that Waterland intended to launch a rival offer, and to sell two Gamma divisions focused on small and medium enterprises to Giacom Ltd upon completing the takeover.

However, The Times added that Gamma judged Epiris' offer "as being more straightforward and carrying lower execution risk".

Gamma shareholder meetings to approve the Epiris deal are scheduled for October 20.

The Takeover Panel said on Tuesday that Gamma, Epiris and Waterland have all accepted its ruling.

Copyright 2026 Alliance News Ltd. All Rights Reserved.