New bidders set to enter Victoria fray
THE battle for control of carpet maker Victoria may be set to open more fronts as the Kidderminster plc says it has identified “a good number of parties” during the formal sales process which have expressed a firm interest in taking over the business.
In what has become an increasingly acrimonious power struggle, the current board has opposed a consortium headed by former Victoria director Alexander Anton and New Fortress Finance Holdings, which is keen to take over the firm and is urging shareholders to back their campaign to maximise value from the business.
Both sides have recently issued strong statements outlining their positions.
A general meeting next month will hear both sides put forward their cases for the future of the firm.
The future of the company will become much more clear at a general meeting to be held on March 6 but today Victoria announced the formal sales process identified other potential bidders for the business.
“Discussions had been on-going with various interested parties, and to date the company’s advisers, BDO, had received conditional indicative offers for the company, some of which had been in a range that the board were likely to be able to recommend to shareholders,” the statement said.
