Affinity takes Scottish Pacific on first trip into the $4s

Affinity Equity Partners is offering more than $600 million for debtor finance company Scottish Pacific.

Street Talk understands the private equity firm’s indicative bid values Scottish Pacific in the “mid to high $4s” a share range, and was made subject to due diligence, funding and the sorts of approvals usually seen when a buyout firm knocks on a listed company’s door.

For Scottish Pacific, it means there is no real rush to do anything.

If there is to be a takeover, it would be months away. Nothing it says or does in the next 24-hours is expected to move the dial, now that Affinity has made its approach.

Scottish Pacific is expected to at least let Affinity sign confidentiality and standstill agreements and give it a closer look at its books.

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Source: Affinity takes Scottish Pacific on first trip into the $4s | afr.com