Hillsdown shares soar on news of bid

18 May 1999

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.

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