ABI slams B&B over private equity rescue deal

The ABI says fundamental investor principles have been broken, particularly in what it calls “preferential” treatment afforded to TPG by B&B shareholders. The warning follows an ‘amber top’ warning from the ABI-led Institutional Voting Information Service over the deal. The ABI admitted it only just stopped short of awarding the proposal the ‘red top’ rating, which is traditionally read as a sign to members to vote against the deal. The move may pave a slightly easier path for the alternative £400m deal put forward by entrepreneur Clive Cowdery’s Resolution Ltd, although B&B has so far ...