Investcorp trumps Quebecor with agreed bid for Watmoughs
Tuesday 24 February 1998
Investcorp has also tabled a bid for British Printing Company, the privately owned printing group which specialises in weekly magazines. Richard Warner, a director of Investcorp, said a combination of Watmoughs and BPC would be a more viable competitor in the European market.
The 345p a share bid for Watmoughs trumped an earlier offer, pitched at 257p a share, from the Canadian group Quebecor. Watmoughs had rejected Quebecor's offer.
Last night, Quebecor said it would "clarify its position" after the competition authorities had decided whether to refer Investcorp's bid to the Monopolies and Mergers Commission. Earlier yesterday, the Government gave Quebecor's own offer the green light.
Quebecor said: "The public interest issues raised by this bid regarding the impact on both customers and employment in the UK. are significantly more complex than those raised in Quebecor's bid for Watmoughs."
However Investcorp, whose bid is conditional on it not being referred to the MMC, pointed out that BPC and Watmoughs would have less than 20 per cent of the UK market. "We don't believe we will have any regulatory issues," said Mr Warner.
Children's bookseller wins The Independent's new author search
Board creates magnetic field to achieve lift
- 1 Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
- 2 Banksy arrest hoax: Internet duped by fake online report claiming artist's identity has been revealed
- 3 Former East 17 frontman Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
- 4 Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
- 5 Paralysed man Darek Fidyka walks again after treatment by British doctors on brink of 'cure'
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Jose Manuel Barroso warns David Cameron against making 'historic mistake' over immigration reforms
Worst Airports of 2014: Poll names Islamabad airport in Pakistan worst in the world
iJobs Money & Business
£23000 per annum + pension and 22 days holiday: Ashdown Group: An established ...
£27000 per annum + pension, 22 days holiday: Ashdown Group: An established ind...
£23000 - £26000 Per Annum: Clearwater People Solutions Ltd: Our client is curr...
£25 - 30k: Guru Careers: A Corporate Actions Administrator / Operations Admini...