Baring Will Not Proceed With RWS Takeover Bid

On May 16, 2022, RWS and Baring Private Equity Asia Fund VIII Limited (BPEA) confirmed that Baring will not proceed with a takeover bid for RWS. Baring said in a statement that it “does not intend to make an offer for RWS.” A response from RWS acknowledged that Baring is “no longer evaluating a possible offer for the Company.”

Baring had previously released a statement on April 21, 2022, saying it was in the “preliminary stages of considering a possible offer” to take over RWS, which is publicly listed in the UK.

RWS noted in its response, on May 16, 2022, that interest from Baring was unsolicited. The language service provider reiterated its commitment to a five-year accelerated growth plan as outlined at its Capital Markets Event on March 23, 2022. 

Pillars of the strategy include accelerating organic growth (currently in the single digits), simplifying the technology portfolio as well as driving operational leverage, and a general commitment to investors to enhance growth and returns.

Shares in RWS were down on May 16, 2022, returning to pre-April 21, 2022 levels, after having jumped upon the release of Baring’s original statement. The potential bid had caused other investment firms to review the broader language industry — and RWS in particular.

With a bid from Baring now ruled out, RWS remains the largest publicly listed language service provider (LSP) in an industry dominated by private equity-owned LSPs.

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