Fidelity says 190p per share Colt takeover offer is final

Fidelity reaffirmed its takeover bid for telecommunications and IT services company Colt Group, saying it will not raise the offer price of 190p per share “under any circumstances”.

Fidelity reiterated on Monday that Lightning Investors, which is jointly owned by FMR and FIL through which the offer will be made, “has received irrevocable undertakings to accept or procure acceptance of the offer at the offer price from certain Colt shareholders”.

Fidelity also said that it will not sell or take any other steps to dispose off its Colt shares to any third party prior to 31 December 2016.

“This commitment stands whether as a consequence of the offer Colt becomes a private company, or remains as a public listed company should the offer lapse,” said the company.