Finance
FitzWalter Capital sweetens buyout bid for Auction Technology to $658 million
Published by Global Banking and Finance Review
Posted on January 16, 2026
Last updated: January 16, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on January 16, 2026
Last updated: January 16, 2026
Jan 16 (Reuters) - Auction Technology Group's biggest shareholder FitzWalter Capital raised its buyout proposal for the British online auction operator to 491 million pounds ($658.4 million) on Friday after repeated rejections.
The increase to 400 pence per share follows the rejection of 11 previous proposals that Auction Technology said had undervalued the business.
Friday's sweetened proposal is at a 11% premium to FitzWalter's last offer at 360 pence per share, sending Auction Technology shares up by as much as 15% to 370 pence, having lost nearly half of their value in 2025.
London-based FitzWalter Capital, which holds more than 21% of Auction Technology, has previously accused the company of pre-emptively disclosing its approach and failing to engage constructively or provide access to due diligence.
The investment firm had also criticised Auction Technology's management for acquiring U.S.-based online marketplace Chairish and allowing "cost-driven margin declines".
Auction Technology, which connects buyers and sellers of antiques and art through auction platforms, has previously called FitzWalter's approaches "opportunistic" and accused the firm of refusing to work towards a recommendable transaction.
The company declined to comment on FitzWalter's latest bid.
"Our proposal would give shareholders certainty to realise a cash offer at an attractive premium, compared to trusting a board that has consistently failed to deliver shareholder value," FitzWalter partner Andrew Gray said in a statement.
FitzWalter urged Auction Technology shareholders to pressure the board to engage in negotiations before a February 2 deadline by which the suitor must make a firm offer or walk away.
($1 = 0.7457 pounds)
(Reporting by Raechel Thankam Job and Rishab Shaju in BengaluruEditing by Shilpi Majumdar and David Goodman)
A buyout refers to the acquisition of a controlling interest in a company, typically through the purchase of its shares. This can involve private equity firms or investment groups taking over a company to restructure or enhance its value.
Equity investment involves purchasing shares of a company, giving the investor ownership rights and a claim on a portion of the company's profits. It is a common way for investors to gain exposure to a company's growth potential.
A cash offer is a proposal to purchase a company's shares for cash rather than stock or other forms of payment. This type of offer is often seen as more straightforward and attractive to shareholders.
Shareholder value refers to the financial worth that shareholders gain from owning shares in a company, typically measured by stock price appreciation and dividends. Companies aim to maximize this value to attract and retain investors.
A takeover is the acquisition of one company by another, often involving the purchase of a majority stake. Takeovers can be friendly or hostile, depending on the willingness of the target company's management to accept the offer.
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