Auction Technology Board Rejects Sweetened 491 Million Pound Takeover Bid from FitzWalter Capital
The board of Auction Technology rejected a sweetened 400 pence per share bid from FitzWalter Capital. The rejection comes ahead of a February 2 deadline.
Insights:
On January 19, 2026, the board of Auction Technology Group formally rejected a sweetened buyout bid from FitzWalter Capital, valued at 400 pence per share. The offer, which amounts to a total of £491 million ($657.8 million), was dismissed by the London-based company on the grounds that it significantly undervalues the business and its future prospects. Chair Scott Forbes scott forbesand the board noted that they have not yet received a formal letter outlining the full terms and conditions of this increased proposal.
This latest rejection marks the 12th approach made by FitzWalter Capital since the two parties began discussions in September 2025. FitzWalter Capital, which currently holds a stake of more than 21% in Auction Technology Group, has seen its interest in the firm become public in early January 2026. The board has consistently described the takeover approaches as opportunistic, while the investment firm has accused the company of failing to engage constructively and has been critical of its management and declining profitability.
