Harmony Energy Income Trust PLC (LSE:HEIT) is in talks to be acquired by Foresight Group LLP in a potential £190.8 million cash deal.
Foresight, a major investor in renewable energy and battery storage, has proposed buying HEIT for 84p per share - a 29% premium to its last closing price.
The HEIT board had been pursuing a sale of its assets, but after reviewing the offer, it believes Foresight’s proposal is a better deal for shareholders. If a firm offer is made on these terms, the board is likely to recommend it.
Foresight has already secured support from Harmony Energy Limited, which owns 12.04% of HEIT’s shares. However, there’s no guarantee the deal will go through, and Foresight has until 14 April 2025 to make a firm offer or walk away.
Discussions are ongoing, and HEIT shareholders will be updated as negotiations progress.