De Vere happy to see GPG offer lapse

25 June 2004
De Vere happy to see GPG offer lapse

Guinness Peat Group's (GPG) partial offer for hotel company De Vere Group has lapsed. GPG announced its £122m offer for the company three months ago and received acceptances from just 0.55% of shareholders.

De Vere chairman Peter Daresbury said: "We are pleased that GPG's ill-conceived partial offer has finally gasped its last breath. GPG's actions have achieved nothing except diverting management from making progress against its clearly stated financial objectives, and forcing the company to run up significant costs."

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking