(Reuters) -Private equity group Permira is nearing a deal to buy London-listed financial services firm JTC for more than 2 billion pounds ($2.68 billion), the Financial Times reported on Sunday.
The planned purchase of JTC, which has a market capitalisation of 2.34 billion pounds, is expected to be announced as soon as Monday, the report said.
Permira declined to comment. JTC did not immediately respond to Reuters’ request for comment.
JTC had been in separate talks with Permira and Warburg Pincus about buyout offers.
The takeover target previously rejected bids from both companies and extended the deadline for submitting an offer to November 14.
Warburg Pincus did not immediately respond to Reuters’ request for comment.
Jersey-based JTC is one of the latest UK-listed companies to draw a bidding war from private equity funds. British companies have proven a fertile ground for bids as they typically trade at a discount to peers in the U.S. and Europe.
In September, Reuters reported private equity group Advent International had also been exploring a possible bid for JTC, though it put its work on hold at that time.
($1 = 0.7451 pounds)
(Reporting by Angela Christy in Bengaluru; Editing by Jamie Freed)
