IP Group has upped its bid for Touchstone to $640m and gained the approval of Imperial College London, making a takeover more likely.
UK-based commercialisation firm IP Group has upgraded its takeover bid for its peer Touchstone Innovations, spun out of Imperial College London, to £490m ($640m) from £466m.
The offer however falls short of Touchstone’s net assets, the value of which stood at £502.2m as of June 30 – roughly a 10% increase from the £455.9m at the start of its financial year in August 2016. The value of its 113-strong portfolio meanwhile stands at £440.3m.
Imperial College London has also…
