28 May 1998
Unigate and Hillsdown ‘close’ to deal

HILLSDOWN Holdings is reported to be close to accepting a bid from Unigate atabout 220p a share, valuing the company at almost £1.6 billion.

An announcement is expected by the end of the week. It follows Hillsdowns earlier statement about plans to break up the group.

Unigate chief executive Sir Ross Buckland is said to be keen to reduce the groups dependency on the difficult dairy market. He is expected to unload quickly the furniture and housebuilding divisions.

  • Unigate and Northern Foods in Hillsdown speculation, FWi, yesterday (27 May) — Click here
  • The Times 28/05/98 page 27, page 30 (Markets)
  • The Independent 28/05/98 page 24 (Shares)
  • The Guardian 28/05/98 page 26 (The Prices Page)
  • Financial Times 28/05/98 page 21
  • The Daily Telegraph 28/05/98 page 33