Bidco prepares to take Tangent private

By Jo Francis, Tuesday 29 March 2016

Be the first to comment

Tangent is set to be de-listed from AIM next month.


Tangent: takeover deal for owner now a formality

Tangent Holdings (Bidco) announced today that its increased cash offer for Tangent Communications has now received acceptances that represent nearly 86% of Tangent Communications shares.

Bidco said it planned to delist Tangent “on or shortly after 27 April”, with trading in Tangent shares to be cancelled from 8am on 27 April. 

It is urging shareholders that have not yet sold up “to do so immediately”. The Bidco offer has been extended until 26 April, after which time Bidco will move to acquire any outstanding shares compulsorily.

Tangent will be re-registered as a private limited company “in due course”, Bidco stated.

As at 24 March Bidco had purchased shares that represented 23.66% of the relevant shares, and had valid acceptances of its offer relating to a further 62.23%.

Bidco, which is backed by Tangent Communications' multi-millionaire chairman Michael Green, increased its initial £6.7m offer for the PLC to £11.91m in response to the rival £8.7m bid tabled for the group from Writtle Holdings.    

Tangent's operations included, Ravensworth, T/OD and Tangent Snowball. 

Share this

Related headlines

Tangent takeover bid now unconditional
11 March 2016

The Michael Green-backed bid for Tangent Communications has been declared unconditional, meaning the...

Writtle will not up Tangent offer
04 March 2016

The Tangent takeover saga looks to be over – Writtle Holdings has thrown in the towel and will not increase...

Bidding war over Tangent
04 March 2016

A bidding war is underway for Tangent Communications after the Michael Green-backed Bidco team upped...

Rival bidders weigh up Tangent’s value
22 February 2016

Events at Tangent Communications were continuing to unfold as PrintWeek went to press, but despite the...

This Issue

Latest comments