Flint Global rejects £120m takeover bid from KKR-backed firm

In the United Kingdom, Flint Global, a rapidly growing business advisory firm, has denied a takeover attempt backed by KKR, a well-known private equity firm referred to as the 'Barbarians at the Gate'. The firm was approached by FGS Global, owned by KKR, with an initial offer of £89 million at the end of last year. Flint Global, which boasts high-profile clients including Diageo, Airbnb, Facebook, and Vodafone, found this offer insufficient and rejected it. Following this, FGS Global attempted to modify their proposal, suggesting that 75 percent of the company be valued at one rate and the remaining 25 percent at a total of £120 million. This revised offer was also turned down in December, reflecting Flint’s strong position and confidence in its market value and future growth potential. The founding of Flint Global occurred in 2015 under the leadership of Sir Simon Fraser, a significant figure who previously served as a diplomat. His connections and expertise have likely contributed to the firm's rise in prominence among major corporations seeking advisory services. This incident underscores the instability in the private equity landscape and the strategic maneuvering firms undertake to expand their portfolios, often encountering resistance from established firms that prioritize their independence and long-term vision over immediate monetary incentives. The rejection of the takeover bid suggests that Flint Global is focused on maintaining its identity and further developing its business rather than yielding control to private equity interests, highlighting a broader trend in corporate governance where established firms weigh the pros and cons of mergers and acquisitions.