Exchange operator Euronext has presented an indicative offer to acquire the B2B wealthtech platform Allfunds for approximately €5.5 billion, composed of cash and stock.
In response to media speculation, both companies have confirmed the takeover proposal. Allfunds stated that the unsolicited bid is for its complete issued and outstanding share capital, offering €8.75 per share, which includes €5.69 in cash and 0.04059 new Euronext shares. This price reflects a 19% premium compared to Tuesday’s closing price.
Euronext is in negotiations with Hellman & Friedman and BNP Paribas, which together hold 46.4% of Allfunds’ shares, in efforts to secure their support for the bid. Notably, Allfunds has not been involved in these discussions.
The Allfunds board is currently assessing the indicative offer, and there is no guarantee that a transaction will occur. Founded in 2021, Allfunds has developed a comprehensive ecosystem encompassing the entire fund distribution value chain and investment cycle, notably through Allfunds Connect, which provides a full range of SaaS-enabled digital, data, and analytics tools.
Allfunds collaborates with nearly 3,000 fund groups and manages over €1.3 trillion in assets.