Essential reading for retailers and suppliers in the home improvement market

Hunter gets his 25%; Tesco reduces conditions for shareholders

Published: 20 June 2007
Another day, another Dobbies tale to relate.
Sir Tom Hunter has gained 25.57% to block Tesco's cash bid, however it has emerged that Tesco reduced the acceptance level to shareholders saying its bid would be valid with only 50% of the shares taken.
Earlier in the day, West Coast Capital bought more than 22% of the share capital before its purchase of 315,783 Dobbies' shares at 1845p at close of play, taking the total to just above 25%.

It was the fourth time in a week West Coast has bought an increased stake in Dobbies, yet the outcome of this tussle is unclear despite Sir Tom's moves.

A spokesman for the investment vehicle said the company was 'still considering' all of its options.

While a broker speaking to the Retail Bulletin website said, the 'ball is in Tesco's court', and added that 'no one is going to accept an offer of 1,500 pence if they (West Coast) have bought at 1,845 pence.'


(Your email address will not be published)
1 + 8 =  
Already Registered?
Sign In
Not Yet Registered?
Printable View E-mail Bookmark

Latest reader comments

re: Latest update on Green Homes Grant and implications for homeowners and landlords

John Hart
After applying for a green homes how long will it take for a decision? thanks...

re: SX Rainproof Exterior Caulk

I need the exterior sx rain resistant caulk! Can't get it anywhere so please help! How can I order it? Need it yesterday...

re: BCT can replicate any material in a ceramic tile

Christina Tiritanou
Not sure if you can help as I require a tile which has the measurements of 6”x 6”? Thank you....

re: Latest update on Green Homes Grant and implications for homeowners and landlords

colin thompson
SarahVery clear and helpful information.Thanks...

Most read stories