Yates buyout back on the cards after raised bid
26 July 2004
The acquisition of pub operator Yates Group is back on after the company bidding to take it over raised its offer.
Thorium, a company made up of venture capital firm GI Partners and the Yates management team, raised its bid from 140p a share to 147p, valuing Yates at £98.4m, excluding debt.
It was forced to raise its price after a consortium linked to Yates's founders, holding 20% of the shares, last week said it would block the planned deal.
The consortium has now said it will accept the raised offer, unless a higher bid comes in from another company.
Thorium says its offer is final, unless there is a competing bid.
Shareholders now have until 9 August to accept.
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