Laird ends recovery with £1bn takeover offer

Laird ends recovery with £1bn takeover offer

In the space of one year, electronics and technology business Laird (LRD) has gone from “bumping up against its covenants constantly” – as chief executive Tony Quinlan put it – to agreeing a £1bn private equity cash takeover. The board is recommending to shareholders a 200p cash offer it received from an indirect subsidiary of private equity group Advent International Corporation. The offer represents a whopping 73 per cent premium to the undisturbed share price – which has since rocketed to match said offer price.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now