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Claverley in bid to snap Guiton Group at 75m

News by

29 October 2003

Claverley, the newspaper publishing and print group that owns the Shropshire Star and Precision Colour Printing, wants to buy Guiton Group, which publishes the Jersey Evening Post and Guernsey Press.

The offer, made by Ernst & Young on behalf of Nurton Holdings, a subsidiary of Claverley, comprises 2.80 per share in cash and values Guiton at 75.9m.

It has also made an alternative offer of 2.90, of which 1.45 is payable on settlement and 1.45 on the first anniversary of completion.

A spokeswoman for Nurton said it was too early to comment on what benefits or synergies could be gained through the deal.

Claverley chairman Douglas Graham made the offer after being informed that the Guiton family had decided to sell its interest.

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