
U.S. private equity firm HarbourVest Partners said it had extended its $1.35 billion offer for smaller rival SVG Capital (SVI.L), even after the British firm accepted an offer for its investment portfolio from Goldman Sachs (GS.N) and the Canada Pension Plan Investment Board.
Boston-based HarbourVest said on Friday that an extension provides shareholders with additional time to consider its “compelling and final” offer.
The acceptance period for HarbourVest’s hostile bid was extended to Oct. 13 from Oct. 6, the company said, adding that it had received valid acceptances for 27.7 percent of SVG’s shares by Thursday afternoon, 26.6 percent of which were subject to letters of intent.
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