Canadian investment giant close to HomeServe takeover
Shares in emergency repair services firm Homeserve have surged after reports it was nearing a sale to Brookfield.
HomeServe, listed on the FTSE-250 index, saw its share price up some 13 per cent on Wednesday afternoon after speculation of a takeover by the Canadian investment giant.
Reports by Bloomberg on Wednesday morning suggested that the two parties were readying to ink a deal, with HomeServe potentially valued at around £4bn.
It was reported an agreement could be finalised within the coming days.
If a deal is sealed, it would amount to one of the biggest transactions in 2022 where a private corporation snaps up the stock of a publicly listed corporation.
The Walsall head-quartered company announced it would enter into talks with Brookfield last month, after speculation earlier in the year.
Brookfield has a deadline of 19 May to either pledge a firm intention to make an offer for the company or walk away.
Earlier this year, HomeServe posted buoyant trading performance, despite Covid headwinds.
In the year ended 31 March, overall customer satisfaction and global policy retention went up in line with expectations, from 83 per cent last year to 84, CityA.M. reported.