ENIC, the investment group, yesterday confirmed that it had made an approach to buy Wembley, the group which owns the stadium. ENIC said it had made an indicative offer of 412.5p per Wembley share, of which 200p was in cash and the remainder in ENIC shares. Although the offer was rejected by Wembley's board, the group's three non-executive directors have written to ENIC saying they would recommend the offer to shareholders. Wembley Stadium is on the verge of being sold to a national trust which will redevelop it with the help of funding from the National Lottery.
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ENIC confirms bid for Wembley