UK: Bidco claims almost all of Eldridge Pope
EP Investments (Bidco) has claimed a 92% holding of Eldridge Pope & Co. Bidco announced today (26 October) that, as of 1400 GMT yesterday (25 October), valid acceptances of the offer had been received in respect of a total of 16,834,220 Eldridge Pope & Co shares (68.02%).
Since the offer was made on 16 September, Bidco has acquired through market purchases a further 469,072 Eldridge Pope shares (1.90%). In addition, on 15 September, Bidco conditionally agreed to acquire the 5,525,291 Eldridge Pope shares held by SDA and Michael Cannon (22.3%).
Bidco said it has therefore received valid acceptances of the offer in respect of (or acquired or otherwise conditionally agreed to acquire) 22,828,583 Eldridge Pope shares (92.25%).
Bidco therefore intends to acquire compulsorily all outstanding Eldridge Pope shares on the terms of the offer.
The offer, including the share alternative, will remain open until further notice.
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