Takeover Panel gives deadline to ICG bidders

The Takeover Panel has given the Doyle Group and One51 just two weeks to make an offer for Irish Ferries owner ICG.

7th April, 2007

The Takeover Panel has given the Doyle Group and One51 just two weeks to make an offer for Irish Ferries owner ICG.

The clock will begin ticking on Tuesday, giving the consortium until April 24 to come back with a counter-bid to Eamonn Rothwell’s €18.50-a-share offer.

Market sources described the two-week timeframe as ‘‘a pretty challenging deadline’’, which would put some pressure on the group.

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