City Briefs: Clipper Logistics; OptiBiotix
The deadline for discussions surrounding a possible acquisition of listed Leeds-headquartered Clipper Logistics has been extended into the middle of next month.
On 20 November Clipper said it had received a preliminary acquisition approach from US private equity firm Sun European Partners.
Sun European Partners had until 5pm yesterday (18 December) to either announce a firm intention to make an offer for Clipper, or instead confirm it does not intend to make an offer.
However, the discussions are still ongoing between Clipper and Sun Capital and, to allow further time for these talks, the Board of Clipper has requested the Panel on Takeovers and Mergers extend the deadline.
A statement from Clipper explains: “In the light of this request, an extension has been granted by the Panel.
“In accordance with Rule 2.6(a) of the Code, Sun Capital is required, by not later than 5pm on 15 January 2020, either to announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer.
“This deadline may be extended with the consent of the panel in accordance with Rule 2.6(c) of the Code.
“There can be no certainty that an offer will be made, nor as to the terms on which any offer might be made.”
Clipper is a provider of logistics solutions, e-fulfilment and returns management services to the retail sector.
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Yorkshire-based listed life sciences firm, Optibiotix, has signed an exclusive agreement with Draco Ingredients GmbH to distribute OptiBiotix’s SlimBiome® proprietary weight management technology in Germany.
Draco Ingredients is a German food ingredient company established in 2001 focusing on the distribution of mainly dairy based ingredients to customers active in segments such as dairy, sports and medical nutrition.
Andre Wittke, general manager of Draco Ingredients, said: “We are delighted to have the opportunity of partnering with Optibiotix and look forward to building a presence for SlimBiome® in Germany by leveraging on the strengths of both organisations.
“We see SlimBiome’s unique value proposition (patented solution backed by clinical and consumer studies and supported by EFSA-approved claims) as being a key driver of the sale of this functional ingredient to German customers in the near future.”
Dr Fred Narbel, managing director of OptiBiotix’s prebiotics division, said: “We are pleased to announce this agreement with Draco Ingredients to service the German market.
“The timing of this agreement fits particularly well with our recent focus on creating the building-blocks necessary to accelerate and expand our reach to customers globally.
“This deal builds on the work done in 2019 to qualify multiple manufacturers of SlimBiome® in Europe and around the world to de-risk our supply-chain in the case of a hard Brexit and give us access to one of Europe’s largest economies.”
