Italian-funded accounting and financial advice firm AZ NGA has rejected a takeover offer of just under $600 million from US private equity firm TA Associates.
Sources said TA Associates submitted an indicative bid of about $700 million for a controlling stake in AZ NGA, which is backed by Milan-listed Azimut and was founded in 2015 by Paul Barrett, the former managing director of ANZ’s global advice arm.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
