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Liam Carroll's Greencore Buyout Obligation Question

JohnnySideburns · 2006-07-10 08:18:23

Hi, Slightly related to my previous thread (http://www.boards.ie/vbulletin/showthread.php?t=2054956914), it says in the papers that if Liam Carroll builds up a 29% stake of Greencore from his present 22%, he will have to make a bid for the entire company. Does any law head out there know what the relevant regulation is…

10-07-2006 8:18am

#1

JohnnySideburns

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Hi,

Slightly related to my previous thread (http://www.boards.ie/vbulletin/showthread.php?t=2054956914), it says in the papers that if Liam Carroll builds up a 29% stake of Greencore from his present 22%, he will have to make a bid for the entire company. Does any law head out there know what the relevant regulation is called and the logic behind it. Just wanting to learn more about the Irish business world.

Thanks in advance.

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#2 10-07-2006 8:08pm

Hitchhiker's Guide to...

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Law is that if you own more than 29.9% you have to bid for the whole company.

Can't remember the precise rationale for the law, but it is something to do with having too much control, and it being unfair on small investors.

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#3 10-07-2006 9:42pm

Sonnenblumen

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Methinks Liam carroll will biuld stake to mount an outright bid for the Group, and I hope he succeeds for a nr of reasons:
- significant upside for all Greencore investors, expect sp to top € 4.50-€ 4.70 range
- he motives are clear, only interested in company's real estates and not food /sandwich businesses. I suspect these will be sold off (probably an MBO/VC Group)
- will not shed any tears for the moaning ex -sugar beeter farmers which have been screwing this company for long time. Just watch the battle of the EU dosh for pulling out of SB production!!
- I hope the fast food/ingredients is sold off and there's an opp for small investors to get back on board.
- this is and probably was a great co with entrepeneurial management, but there's a new guy in town and methinks he's other plans and they don't include making plans for making sanis!

Game on!!

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