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Finance site is equity target
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24 July 2008
The Ontario Teachers Pension Plan Board's private equity division Teachers' Private Capital said it was behind the approach.
Moneysupermarket founder and chief executive Simon Nixon last night said he had rejected a potential offer. The statement triggered a 22% leap in the share price.
Having had its initial approach spurned, Teachers said it now has no intention of making a bid.
Teachers led the world's biggest leveraged buyout deal - the £25 billion takeover of Canadian telecoms group BCE. It is also the major shareholder in Northumbrian Water.
Despite the bidder walking away, shares in the company remained near last night's high levels, down only 1¼p at 83p amid hopes other private equity firms may be spurred into action for Moneysupermarket, currently valued at about £450 million.
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