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Announced

TPG-led consortium to acquire Smartgroup for $1.38bn.

Synopsis

TPG-led consortium offered to acquire Smartgroup, an Australia-based company engaged in providing specialist employee management services, for $1.38bn. Australian private equity investors Potentia and Aware Super are also participating. The bid represents a 31% premium. Smartgroup is willing to recommend a binding offer at $10.35 a share.

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