| Potential buyer makes move on logistics firm |
| Written by Business Weekly | |
| Tuesday, 15 June 2004 | |
|
Shares in Hertfordshire logistics company, Tibbett & Britten Group plc, leapt almost 20 per cent following an announcement that it had been approached by an undisclosed firm with a view to a takeover.
Shares in Hertfordshire logistics company, Tibbett & Britten Group plc, leapt almost 20 per cent following an announcement that it had been approached by an undisclosed firm with a view to a takeover. The announcement posted on the London Stock Exchange landMARK website said the board had received an approach that could lead to an offer being made for the entire issued share capital of the firm at a “significant premium to the company’s closing share price of 490p per share on 14 June 2004.” That share price is now significantly higher having reached 584p on 15 June, an increase of 19.08 per cent. Further details were witheld, with the Elstree firm stating that a further announcement would be made when appropriate. Tibbett & Britten is one of the world’s leading logistics and supply chain solutions companies to manufacturers, retailers and distributors of food & beverage, fashion and other branded mass consumer merchandise. It employs 38,000 people in 35 countries across five continents. Total revenues in 2003 exceeded £1.6 billion. |
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