Irish Continental Group PLC – Dublin-based ferry operator – Says a “clear majority” of its shareholders support the takeover bid by Bluefin Bidco Ltd but the 75% threshold needed for the scheme to come into effect has not yet been reached. Irish Continental shareholders are currently considering a proposal for the acquisition of the group by Bluefin for EUR1.2 billion in total, or EUR8.00 per share, representing a 28% premium to its EUR6.24 closing share price on July 24, the day Bluefin made its offer. Company adds that it “is considering the options available to it, including an adjournment of the scheme meetings and EGM scheduled for this Friday… for the purposes of giving shareholders additional time to consider the Acquisition and cast their votes.”
Current stock price: EUR7.06, closed up 2.3% in Dublin on Wednesday
12-month change: up 26%
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