Wolves owner pulls out of Redrow takeover
19th October 2012
WOLVERHAMPTON Wanderers owner Steve Morgan, founder and 40% shareholder of Redrow, has pulled out of a proposed takeover of the housebuilder.It is thought Redrow shareholders had been asking too much to sell up.In a brief statement to the stock market, Mr Morgan's Bridgemere Securities – which also owns the Molineux club - said it and partners Toscafund Asset Management and Penta Capital had decided not to follow up on a cash 152p per share approach."Each of Bridgemere, Toscafund and Penta confirms that discussions with Redro......for the full story register now for free or login below...
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