Apax Partners Abandons $792 Million Takeover Bid for Pinewood Technologies

Apax Partners has withdrawn its proposed $792 million offer for Pinewood Technologies Group PLC PINE.L, a move that cancels the takeover proposal and materially alters the company’s market position. The decision, confirmed on February 13, 2026, brings an end to a process that had significantly impacted the target’s valuation and prospects within the United Kingdom GB and India IN.

The withdrawal follows a late-January proposal that had previously driven shares in Pinewood Technologies up by nearly 30%. This reversal occurred ahead of a potential formal deadline of February 26, by which time a firm offer of 500 pence per share was expected to be finalized. The cancellation of the bid represents a significant shift for the London-listed provider, which specializes in a cloud platform for car dealerships and manufacturers.