Madison Dearborn extends Towergate offer

Private equity firm Madison Dearborn has offered to purchase all
remaining shares in UK broker Towergate not owned by itself,
Sentry, HPS Investment Partners (formerly Highbridge), KKR or Bain.
HPS Investment Partners, KKR, Bain and Madison Dearborn now own
95.3 percent of Towergate shares, with the remainder owned by
individual investors.
The move follows Madison Dearborn's completion of its tender
offer for shares in the group earlier this week, which made it the
intermediary's second largest