Young’s could become vulnerable to a takeover bid following the announcement of plans to scrap one of its three classes of shares.
It has decided to scrap its B shares and move its stock market listing from the main market to AIM. Young’s dismissed claims it would be vulnerable. It said the change would make it easier to go out and make acquisitions again although that was not the rationale for the move.
The Daily Telegraph says property developers have gawped at Young’s fine real estate for decades. The company’s Ram Brewery is expected to close in 2008.
References: The Times 06/05/05 page 53, page 55 (City Diary), The Daily Telegraph 06/05/05 page 40 (City Comment), The Independent 06/05/05 page 61
