02:51 AM EDT, 09/18/2026 (MT Newswires) -- Irrevocable undertakings for Ridgeview Partners' takeover offer for Pinewood Technologies Group (PINE.L) dropped to 44.56% of the target company's share capital as of Thursday, according to a Friday filing. The decline in undertakings was due to Feoh Investments UK, a shareholder of the London-listed cloud-based full-service technology company, selling its stake. Following the share sales, Feoh informed Ridgeview that it does not have any Pinewood shares which remain subject to the offer. In August, US-based private equity company Ridgeview, through UK Piston Bidco, offered 4.48 pounds sterling in cash for each Pinewood share, valuing the latter's entire share capital at 545 million pounds on a fully diluted basis.

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