Retail Human Resources plc
Matalan prepares for £817 million offer
09 October 2006 09:26
According to press reports, the board of Matalan is likely to accept an £817 million bid this week from the company’s founder and chairman John Hargreaves. The deadline for Mr Hargreaves to make an offer is noon on Wednesday; after this he will not be able to make a further offer for six months. Matalan recently announced that like-for-like sales rose for the first time in two years, due mainly to an overhaul of its ranges and a high-profile advertising campaign. Mr Hargreaves already controls 53% of the company and is being supported in his bid by Barclays Capital.
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