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Tribal Group Receives Indicative Takeover Proposal from Largest Single Shareholder

MT Newswires·09/29/2026 03:13:06
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03:13 AM EDT, 09/29/2026 (MT Newswires) -- Tribal Group (TRB.L) received an indicative takeover offer of 1.11 pounds sterling in cash per share from education software and services provider Jenzabar. Jenzabar is the single largest shareholder of the London-listed education-related software and services group, with ownership of 56,139,342 shares, or a 26.19% stake, in the company, according to a Tuesday filing. Tribal Group directors agreed to engage with Jenzabar regarding the potential offer. The latest indicative proposal is higher than the competing offer of 1.05 pounds per share from Main Capital Partners' Thames Bidco. Directors of the target said the Jenzabar proposal offered solutions to concerns identified in Main Capital's offer. Tribal Group shareholders will consider the Thames Bidco proposal at the general meeting scheduled for Friday. The target's board is urging shareholders to reject the bid.