Symphony makes last minute bid for Kewill
Supply chain software company Kewill has received a last-minute bid from Symphony, a US private equity firm, beating off rival bidder Francisco Partners.
Supply chain software company Kewill has received a last-minute bid from Symphony, a US private equity firm, beating off rival bidder Francisco Partners.
Symphony, a San Francisco-based company that was founded in 2002, wooed Kewill board members with a £99.6m bid for the company, putting Francisco's £89.5m offer firm in the shade.
Kewill shareholders will earn 106p for each of their shares in the loss-making company, whose clients include FedEx and Unilever.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In the past 12 months the company has issued two profit warnings and currently expects full year adjusted operating profits to be £9.3m.
Chief Executive Paul Nichols is planning to step down from the board once a successor has been appointed.
Kewill's share price rose 10.99% to 106p by 09:07.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?
Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
-
MPs warn over Lifetime ISAs which could leave savers out of pocket
The Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”