PhillipCapital eyes Walker Crips takeover with £6m bid

In an update shared by the firm today (24 November), it confirmed that the purchase will be mainly via a court-approved scheme of arrangement. As a result of the deal, shareholders will receive 14.0 pence in cash per share, which values Walker Crips at £5.96m on a fully diluted basis. The offer represents around 87–91% above recent one to three month average prices, and 41% above the six-month average. PhillipCapital and its concert party already own 29.03% of Walker Crips, so these shares cannot vote at the court meeting but can vote at the general meeting. The independent Walk...