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Inspecs Group PLC on Friday said the vehicle indirectly owned by Luke Johnson and Ian Livingstone has switched to a takeover offer worth £85.4 million from the previous scheme agreement. The takeover offer for the Bath, England-based producer of eyewear solutions, made through Bidco 1125 Ltd, will see shareholders receive 84 pence in cash per share, the same as the previous scheme agreement. The bid is more than double the 40.5p closing price on October 22, the day before the possible offer was announced. Earlier this month, the court meeting and general meeting for the acquisition on a scheme arrangement were adjourned from February 9 to next week Monday. Inspecs said Bidco expects to publish the new offer document on Monday. The boards of Bidco and Inspecs ‘are of the view that the terms and conditions of the acquisition are in the best interests of Inspecs shareholders as a whole’ and have therefore decided to ‘increase the certainty of the acquisition becoming effective’ by switching to a takeover offer. The offer is conditional on receiving more than 50% of votes. Bidco said it has received irrevocable undertakings from 32% of Inspecs shareholders and also holds 19% of Inspecs shares itself. Shares in Inspecs closed flat at 84.00p on Friday in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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