Barbour Index founder's pounds 22m
Saturday 13 March 1999
The deal marks the end of a frantic auction which was sparked last month when Mr Barbour, who will be 65 in July, announced his intention to step down and sell his 42.4 per cent stake in the company.
Mr Barbour founded the company with his brother in 1957 after completing his national service and a two-year spell working as an travelling salesman for Encyclopedia Britannica. A former director, David Davenport, who retired five years ago, is set to receive pounds 4.3m for his 8 per cent stake.
Havas won the auction despite intense competition from rival UK companies including Emap, the magazines group, and Lord Hollick's United News & Media. The French group, which is a subsidiary of the media and utilities giant Vivendi, is offering 305p per share in cash for Barbour, valuing it at pounds 53m. Shares in Barbour, which have been buoyed by takeover speculation in recent weeks, dropped 25p to 300p.
Brian Griffin, Barbour's chairman, said Mr Barbour and the rest of the board had favoured Havas' bid because it planned to leave the company intact.
- 1 Sabrina Corgatelli: US hunting tourist posts picture of herself with dead giraffe after Cecil the lion outrage
- 2 Dutch King Willem-Alexander declares the end of the welfare state
- 3 A-level results 2015: UK exam board OCR admits it 'estimates' hundreds of pupils' grades after papers 'go missing'
- 4 Giant Minion terrorises drivers in Ireland as 40ft inflatable blocks busy Dublin road
- 5 'Cool kids' can go on to become losers in later life, study finds
Sabrina Corgatelli: US hunting tourist posts picture of herself with dead giraffe after Cecil the lion outrage
'Gene drive': Scientists sound alarm over supercharged GM organisms which could spread in the wild and cause environmental disasters
Edward Heath 'child sex abuse' allegation: Investigation to be held into Wiltshire police handling of alleged claim in the 1990s
Labour leadership race: Jeremy Corbyn could be the next Prime Minister, says Ken Clarke
A-level results 2015: UK exam board OCR admits it 'estimates' hundreds of pupils' grades after papers 'go missing'
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Chris Leslie: Jeremy Corbyn's anti-austerity agenda will harm the poor, says Labour shadow Chancellor
Landlords renting properties to illegal immigrants to face up to five years in prison
While we fixate on Calais, the Home Office is quietly deporting dozens of migrants on 'ghost flights'
Calais crisis: The seven claims made about the migrants - and the reality
iJobs Money & Business
£20000 - £25000 per annum + OTE £45K: SThree: SThree Group have been well esta...
£21000 per annum: Recruitment Genius: This is an exciting opportunity to join ...
Up to 70k DOE: Guru Careers: We are seeking an experienced Financial Director ...
£11000 - £50000 per annum: Recruitment Genius: This financial company offer ma...