Slaughter and May is advising The Innovation Group - proposed acquisition by Bidco

Slaughter and May is advising The Innovation Group PLC (TIG) on its proposed acquisition by Axios Bidco Limited (Bidco), an entity controlled by funds managed by the Carlyle Group. The recommended offer was announced on 28 August 2015 and values TIG at approximately £499 million. Under the terms of the offer, TIG shareholders will be entitled to receive 40 pence in cash for each TIG share held.

It is intended that the transaction will be implemented by way of a court-sanctioned scheme of arrangement. The transaction is subject to customary conditions. Subject to the satisfaction or waiver of the conditions, it is expected that the transaction will be completed in Q4 2015.

TIG is a solution provider primarily to the motor and property insurance industry.