Johnston approach draws out bidders
Monday 25 January 1999
The chairman, Sir Stephen Waley-Cohen, last night warned shareholders that Johnston was primarily interested in blocking any third party from bidding and that accepting its offer would play into its hands.
"Johnston is using smash and grab tactics to get the group on the cheap," he said.
Johnston struck after talks aimed at achieving an agreed deal broke down last month over price. It is seeking to buy 10 per cent of the group through a pounds 16 a share tender offer, to add to the 14.99 per cent it has already acquired. It is now seeking monopolies clearance for an all-out bid for the entire group.
The group wants to avoid being caught out, as it was last year when its bid for Home Counties Newspapers failed because the rival Eastern Counties was able to move in while Johnston's bid was stalled by the Monopolies Commission.
- 1 Half of young women unable to ‘locate vagina’ and 65% find it difficult to say the word
- 3 Saudis risk new Muslim division with proposal to move Mohamed’s tomb
- 4 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 5 Mexican woman becomes world’s 'oldest person' at 127
Perez Hilton apologises for publishing Jennifer Lawrence naked 4Chan photos
Jennifer Lawrence 'nude photo hacker' claims there are hundreds more celebrity images to come
Victoria Justice on naked photo leak: 'Let me nip this in the bud right now – pun intended'
Ariana Grande nude photos leak: Pictures are completely fake, say representatives
Saudis risk new Muslim division with proposal to move Mohamed’s tomb
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ashya King: 'Cruel NHS has not given us the treatment we need', says father of five-year-old with brain tumour who fled to Spain
iJobs Money & Business
£35000 - £38000 per annum + benefits: Ashdown Group: Executive Assistant/Event...
£30000 - £32000 per annum: Ashdown Group: HR Generalist (standalone) - Tunbrid...
£600 - £800 per day: Harrington Starr: Derivatives Risk Commodities Business A...
£600 - £800 per day: Harrington Starr: Power & Gas Business Analyst/Subject Ma...