Shareholder complaints lead to increased bid for Loungers
The investment group seeking to buy hospitality company Loungers has increased its bid to £354m in response to shareholder pushback on the original offer.
Fortress Investment Group had agreed a 310p-per-share deal in November for the Bristol-based café and restaurant chain and has now upped its offer to 325p, which it insisted is its final offer.
Larger shareholders, including Slater Investments, Axa Investment Management, Gresham House, and Downing Fund Managers had been unhappy with the original bid, feeling it undervalued t... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
