1st Apr 2021 21:20
Team PLC - fund management company - Confirms receipt of irrevocable undertaking and non-binding letter of intent from Tavistock Investments PLC shareholders to vote in favour of a takeover offer.
Christopher Peel, which holds 31.1 million shares - reflecting a 5.1% - gave his undertaking to vote for the offer. This brings the total support from shareholders to 85.1 million shares, representing a 14% interest in Tavistock.
On Wednesday last week, Tavistock confirmed it had been approached by Team to discuss the merits of a possible offer at an exchange ratio of one Team share for every 36 Tavistock shares, implying a value of 2.50p per Tavistock share.
Current stock price: 87.40 pence
By Dayo Laniyan; [email protected]
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