Premier MBO gets green light

The management team, under the name Harvard Bidco, announced its final recommended £43.8m cash offer for the group has become wholly unconditional. At lunchtime on August 24 Harvard Bidco, backed by private equity firm Electra Investors, had agreed to acquire or had valid acceptances of 71.62% of Premier shares. The offer will remain open until September 11. The level of shares acquired fell short of the 90% originally needed for the deal to go through but these conditions have now been waived. The group was forced to extend the offer period for shares from August 13 to August 24 in a...