Property investor Andrew Perloff looks set to acquire Beales department chain after tabling a bid of just 6p a share, well below the market price.
Beales’ directors have advised shareholders to accept the offer after Perloff built up a blocking stake in the company. Perloff has owned a 29% stake in Beales since 2010.
Beales operates 29 stores located in various market towns. The offer values the chain at £1.23m.
