Heneage leads Ottakar’s management buyout
A statement to the London Stock Exchange this morning confirmed that the company’s board had “entered into discussions in relation to a possible offer being made for Ottakar’s by a new company to be formed by private equity investors and certain directors of Ottakar’s”. The m.b.o. team includes Heneage,
longstanding chairman Philip Dunne and finance director Michael Hithcock, who joined in January. The board has formed a committee of independent directors to negotiate with the new company. comprising John Thornton, David Adams and Mark Fane. The statement said: “These discussions may or may not lead to an offer being made for the company. A further announcement will be made in due course.”
The chain’s shares fell sharply on its last trading statement on 21st July to 255p, but climbed back to 281p yesterday, leading to the board’s statement. They rose again steadily this morning, hitting 320p by 8.45 a.m.
joel.rickett@bookseller.co.uk
The chain’s shares fell sharply on its last trading statement on 21st July to 255p, but climbed back to 281p yesterday, leading to the board’s statement. They rose again steadily this morning, hitting 320p by 8.45 a.m.
joel.rickett@bookseller.co.uk
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