Bidding battle ensues for ICG unit With Intelligence

A takeover battle has ensued over With Intelligence, the provider of financial data to hedge funds.

Motive Partners and Flexpoint Ford, on the one hand, and Cinven, the buyout specialist, on the other, are the two bidding groups, Sky News reported, citing insiders.

Houlihan Lokey was handling the auction for Intelligence, previously known as Pageant Media.

Final bids for Intelligence, now owned by Intermediate Capital Group, were expected to be submitted on Wednesday.

Among other assets, Intelligence owned Hedge Fund Alert, Eurekahedge and Pension Funds Online.

Intelligence was reportedly anticipating an annual profit of approximately during the following year £25m.