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John Laing's second biggest investor backs KKR's $2.84 billion buyout deal

·1 min read

May 21 (Reuters) - Asset manager Schroders, the second biggest shareholder at John Laing, has backed private equity firm KKR's 2 billion pound ($2.84 billion) bid for the British infrastructure firm, calling it a "fair deal".

"As a major shareholder in John Laing we believe management have secured a fair deal for all stakeholders," a Schroders spokesperson said in an email statement late on Thursday.

The asset manager owns nearly 8% of John Laing, Refinitiv Eikon data showed.

Earlier this week, John Laing became the latest British company to attract a take-private bid as London-listed firms carry a discount to global peers, undermining the value of staying public.

The company's shareholders are entitled to 403 pence per share in cash, a premium of 27% to the stock's close on May 5, the day before the company confirmed it was in takeover talks.

Shares have gained nearly 28% since the disclosure and were trading at 404.2 pence by 0733 GMT on Friday. ($1 = 0.7052 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Arun Koyyur)

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