Private equity group Duke Street Capital yesterday launched a £133m hostile takeover bid for health club operator Esporta.
Duke Street said its 80p per share offer represented a good way for shareholders to exit an underperforming business.
The shares were down 0.5p at 82p yesterday.
But Michael Ball, Esportas finance director, said the offer was in effect a nil premium offer.
He said the bid took no account of performance since the introduction of new management and detailed restructuring plans.
Financial Times 01/06/02 page 13
Daily Telegraph 01/06/02 page 30, The Times Business 01/06/02 page 55, The Guardian 01/06/02 page 24, The Independent 01/06/02 page 25
