Hillsdown shares soar on news of bid
SHARES in Hillsdown Holdings jumped 9% as the City bet that a group of rebel directors will make their own hostile bid for the diversified group which includes a number of poultry interests.
The company is already in receipt of a £464 million offer from US concern Hicks, Muse, Tate & Furst, which has been formally approved by several members of Hillsdowns board.
Candover, the venture capital company, has declined to confirm a widespread belief that it is backing a rival management buyout bid from Michael Teacher, the chief executive of Hillsdown, and his fellow executive board members.
- Bids split Hillsdown board, FWi, yesterday (17 May, 1999)
- US firm bids £450m for Hillsdown, FWi, 14 May, 1999
- The Times 18/05/02/99 page 27
- Financial Times 18/05/99 page 26 (News Digest)
- The Guardian 18/05/99 page 21 (City Briefing)