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Management buyout of Lees Foods cleared by court
date:Jun 28, 2012
The acquisition was delayed after shareholders expressed concern that the offer of 230p-a-share deal was too low.
However, the hearing cleared the terms of the offer from the directors of Randotte, who are also directors of Lees. Randotte is a private limited company incorporated in Scotland on 10 February 2012 and formed specifically for the purposes of the acquisition.
On the day of the court hearing, Randotte's directors released a statement confirming they had no plans to divest the Lees bus

12/21 13:52