Retail Human Resources plc
Takeover Panel sets timetable for Matalan offer
28 July 2006 09:14
Matalan and its group chairman John Hargreaves have accepted a ruling by the Takeover Panel that Mr Hargreaves must announce a decision as to whether he intends to make an offer for Matalan or not by 12:00 on 12th September 2006. Both parties said that it was in the interests of shareholders to set a timetable in relation to Mr Hargreaves’ potential offer, although the statement stressed that there was no guarantee that an offer would be made. The watchdog also indicated that, as is customary, should Mr Hargreaves decide not to announce an offer by the appointed time he would then be banned from doing so for the six months thereafter.
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