(Alliance News) - Carpetright PLC said Wednesday that a large majority of shareholders approved the takeover offer from Meditor Holdings Ltd.
The high street chain said approximately 80% of shareholders at a meeting on Wednesday voted in favour of the resolution to approve the offer.
In November, Carpetright agreed to a takeover offer from Meditor, which valued the retailer at GBP15.2 million.
The company had said that Meditor already owned just shy 30% of the firm, and holders of the remaining Carpetright stock would receive 5 pence per share. Carpetright shares closed 0.5% lower in London at 4.92 pence each on Wednesday.
Chair Bob Ivell said back in November: "We believe the Meditor offer is in the best interests of all stakeholders. While we have made significant progress with our recovery plan for the Carpetright group, our ability to invest in the future of the business has been constrained against the backdrop of limiting banking covenants and a very challenging consumer market.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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