Liberty family reject sale

Liberty family reject sale

The battle for control of the Liberty retail group took another twist yesterday when the founding Stewart-Liberty family and rebel shareholder, Bryan Myerson, said they would not accept any takeover bid ahead of a planned emergency general meeting. The two groups, which control 44 per cent of Liberty, said a "fire sale" was not in the best interests of shareholders. The Liberty board said the family was attempting to gain control without paying a premium. It will detail today its plans for the group and the date of the emergency meeting where the Stewart-Liberty family expect to oust the chairman, Denis Cassidy.