Two months after declining a takeover bid from Wolverhampton & Dudley, the UK pub operator, Eldridge Pope & Co., has turned down an approach from the entrepreneur, Michael Cannon.
Cannon’s investment company, SDA, had offered 165p per share for 19.31% of Eldridge Pope which would take its share to 29.9%, only just below the 30% threshold required to trigger a full takeover bid.
Eldridge Pope said the offer was “opportunistic” and Cannon was attempting to gain control of the company cheaply.
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