Hargreaves Lansdown PLC on Wednesday rejected a takeover approach from a group of private equity firms including CVC Advisers.

In a brief statement, the consortium which includes CVC Advisers Ltd, Nordic Capital XI Delta, and Platinum Ivy B 2018 RSC Ltd, a wholly-owned subsidiary of Abu Dhabi Investment Authority confirmed making a bid for the investment platform and financial services company.

The consortium said it was considering a possible offer for Hargreaves Lansdown after having made a 985 pence per share proposal on April 26.

Hargreaves Lansdown rejected the proposal, the consortium said.

Shares in Hargreaves Lansdown closed up 5.0% at 979.00 pence in London on Wednesday.

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