ICM seeks to end Netstore speculation

The Daily Telegraph has reported that ICM ‘is planning to ask the Takeover Panel to impose a ‘put up or shut up’ deadline on Netstore’. Netstore announced in mid-October that it was contemplating an acquisition bid for ICM, which was followed by a meeting between the two companies.

The last statement on the issue was made on 10th November when ICM’s chairman announced that ICM had ‘requested clarification on several key points from Netstore before its proposal can be considered further.’

The Telegraph states that ICM will push for the deadline to be imposed if Netstore does not come up with a formal offer in the next few days. The paper speculates that Netstore ‘may now be considering a hostile approach’.

•Date: 6th Dec 2006• Region: UK •Type: Article •Topic: BC markets
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