Doubt has been cast over Dunloe House’s claim to have won control of quoted property rival Ewart. The Northern Irish concern has challenged 1.8% of the acceptances received by Dunloe – enough to decide the outcome.
Ewart’s move follows Dunloe’s announcement on March 4 that it owned or received acceptances of 51.2% of Ewart’s shares for its 81p share offer, valuing the company at £25.7m.
Dunloe has been barred by the Takeover Panel from declaring its offer unconditional. The appeal will be heard next week.
- Financial Times 12/03/98 page 35
- The Daily Telegraph 12/03/98 page 30
