Auction Technology Group Dismisses FitzWalter Takeover Approaches as Inadequate

Auction Technology Group (LSE:ATG) has confirmed that it has received and unanimously rejected eleven unsolicited and highly conditional takeover proposals from its largest shareholder, FitzWalter Capital. The most recent proposal, which offered 360 pence per share in cash, was rejected on the grounds that it significantly undervalues the business and is opportunistic, reflecting what the board sees as a gap between the company’s current share price and its underlying fair value.

The board has not provided FitzWalter with access to non-public due diligence information and has now urged the investor either to put forward a firm offer on terms that properly reflect the group’s value or to withdraw its interest. This stance is intended to allow management to concentrate on executing its long-term strategy. Key priorities include integrating the recent Chairish acquisition, further developing the group’s technology and AI-enabled platform, and driving standalone value creation for shareholders. A broader strategic update is expected to be outlined in conjunction with the company’s AGM trading statement later this month.

From a performance perspective, Auction Technology Group’s outlook continues to be shaped by financial headwinds, including negative net income and weakening cash flow. Technical indicators point to mixed momentum, while valuation metrics remain constrained by ongoing losses. Limited disclosure from earnings calls and a lack of additional corporate developments also restrict near-term visibility.

More about Auction Technology Group PLC

Auction Technology Group plc operates leading online marketplaces for curated second-hand goods, providing proprietary technology that connects buyers and sellers globally. The group is active across auctions and fixed-price sales in the art, antiques and wider resale markets, supported by value-added services such as atgPay and atgShip. Its US presence was strengthened in 2025 through the acquisition of Chairish, a prominent brand in the list-price art and antiques segment.