Littlewoods bidder goes direct
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The Barry Dale consortium that has made a pounds 1.2bn offer for the Littlewoods group has written to the shareholders in a final attempt to argue its case ahead of tomorrow's crucial emergency general meeting.
Mr Dale's advisers, Dawnay Day, have told shareholders that its bid is for the whole group and not a break-up bid. It also states that allowing the consortium access to the company's accounts does not commit shareholders to accepting the offer or any other proposal. It says it is happy for members of the Moores family, who control the company, to remain involved in its future.
Mr Dale, who is a former chief executive of Littlewoods, said: "I know we have some support from the family but we just don't know which way the vote will go." It is thought that even if the vote goes against Mr Dale tomorrow, the consortium will stay together and hope for another chance.
Mr Dale's proposals must now compete against a rival pounds 1.1bn offer made for the company this week by a group led by Sir David Alliance, chairman of Coats Viyella and the N Brown mail order company.
Both bids will be discussed at tomorrow's meeting. Peter Moores will propose two more resolutions. One will urge shareholders to consider all bids. The second proposes preparing a sales memorandum giving financial disclosure to potential buyers.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments