Genus asks VDC to recommend bid
GENUS, the cattle-breeding and farm consultancy group, has urged VDC to recommend its £20.7 million hostile bid and “resolve the uncertainty facing the business”.
VDC, an Aim-quoted distributor of veterinary products, said it was still considering several other approaches that might lead to a trade sale or merger.
Genus is offering 190p a share, a premium of 43% to the VDC price on 13 April, when the approach was announced.
Shares in Genus are traded in Ofex, the unregulated over-the-counter market.
The group is capitalised at about £27m and intends to seek a full listing if the bid succeeds and market conditions are favourable.
- Genus offers £20.7m for VDC, FWi, 20 April, 1999
- Financial Times 07/05/99 page 26 (News Digest)