Corporate Services Firm JTC Rejects Permira’s Takeover Bid (2)

Shares of JTC Plc, the London-listed provider of fund solutions and corporate services, soared to a record high after it rebuffed a preliminary takeover bid from Permira.

The board of JTC decided unanimously on Aug. 27 to reject Permira’s latest non-binding cash proposal, it said in a statement Friday after Bloomberg revealed the private equity firm’s interest. The company also rejected an earlier offer from Permira, it said, without providing details on the offers.

Permira made a proposal valuing JTC at around £2 billion ($2.7 billion), people with knowledge of the matter said earlier.

There’s no certainty a firm offer ...