see all jobs
Approach for Carluccio's
Carluccio's has confirmed a preliminary takeover approach by an unnamed suitor, speculated to be from a private equity firm.
Speculation of an advance arose on the back of a sudden 18 per cent rise in the Italian restaurant chain's share price, to 92.5p, valuing the company at around £52m.
City analysts speculate a possible bid of 110p to 120p a share, but it is unlikely that the group would accept anything less than 150p on the back of its potential to expand the chain overseas, following the recent success of its new outlet in Dubai, combined with the company's lack of debt.
The Ivy owner Richard Caring is thought to be putting forward a counter bid in preference to accepting such a low share offer, having spent more than 200p a share when he bought his 12 per cent stake in Carluccio's.
A spokesperson for the group said the approach "may or may not lead to an offer for the company".
More News
- News by sector (all)
- All news
- Fitness
- Personal trainer
- Sport
- Spa
- Swimming
- Hospitality
- Entertainment & Gaming
- Commercial Leisure
- Property
- Architecture
- Design
- Tourism
- Travel
- Attractions
- Theme & Water Parks
- Arts & Culture
- Heritage & Museums
- Parks & Countryside
- Sales & Marketing
- Public Sector
- Training
- People
- Executive
- Apprenticeships
- Suppliers