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Inspecs on Friday extended the deadline for potential acquisition bids, as it acknowledged possible offers from Milan-listed Safilo Group Spa and British private equity firms. Padova, Italy-based eyewear firm Safilo confirmed it had approached Inspecs about a potential takeover of its Eschenbach Group and BoDe businesses. It has since made two non-binding cash bids to acquire the entire company. The Bath, England-based contact lens and eyeware maker Inspecs has rejected each of these offers. Inspecs said Safilo had ‘undervalued’ its assets, and was bidding lower than two other suitors, both of which are interested in an all-share takeover. Talks between Inspecs and London-based H2 Equity Partners Ltd have been in progress since June. It has been in discussions with a consortium made up of private equity firm Risk Capital Partners LLP and investor Ian Livingstone since August. Inspecs noted that Safilo is still in the running, and that each of the suitors has until December 18 to confirm their intention of making a formal offer. This extends the original put-up-or-shut-up deadline from Friday. ‘Safilo confirms that it is continuing to assess its options, including the possibility of making a revised offer to acquire the entire issued and to be issued share capital of Inspecs,’ the Italian firm said. ‘This announcement is not an intention to make an offer and accordingly there can be no certainty that an offer will be made, nor as to the terms on which any such offer might be made, save that the consideration for any such offer would be in the form of cash.’ Inspecs added that H2 Equity Partners had made the highest proposal so far, for 84 pence per share in cash, with an unlisted share alternative, though this was not a formal offer. Inspecs shares rose 1.1% to 73.80 pence on Friday afternoon in London, having gained 37% in the last 12 months. Safilo was up 1.8% at €1.84 in Milan on Friday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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