The company has registered a formal offer for all the company’s issued share capital not already owned by CL which has been recommended by the Burn Stewart board. The offer values the entire existing issued share capital of Burn Stewart at around £48.9m, representing a 116% premium to the closing middle-market price of Burn Stewart shares.
UK: Angostura makes formal bid for Burn Stewart
After months of negotiation and speculation, Angostura Limited, part of the Caribbean C L Financial group, has made a formal cash offer to take over the Scotch whisky distiller, Burn Stewart.