JTC has agreed to a £2.7bn acquisition offer from British global investment firm, Permira.

The deal, which is valued at £13.40 per JTC share, represents a 49.4% premium on the fund administration services firm’s share price on 13 August.

This was the date on which Permira first approached JTC in regard to a takeover.

JTC had previously rejected a £2bn acquisition offer from Permira in August, leading to a bidding war in the subsequent months between Permira and the New York-based growth investor, Warburg Pincus.

The board at the FTSE 250 fund administration firm said that while it is "well-positioned" to progress as an independent company, the offer recognises the value of the business and provides its shareholders with an immediate cash realisation, compared to its independent strategy as a public listed company.

Upon completion of the deal, JTC will leave the London Stock Exchange.

Investment director at AJ Bell, Russ Mould, said that while shareholders may be pleased with a pay out, this could have a longer-term impact on the UK’s stock market.

He added: "A trend that has boosted UK stocks in recent months reared its head again as private equity agreed a £2.7bn deal for JTC, which provides administrative services to investment funds. In common with a number of deals, the price is pitched at a material premium to the undisturbed share price before news of a potential offer emerged in mid-August.

"As such it might be cause for celebration for shareholders in the short term. However, longer term it will further thin the ranks of the UK stock market. It is also the case that a company which is still growing at a decent lick might have been able to organically increase its valuation beyond the takeout price given more time."

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