Premier MBO suffers setback

Premier's ongoing £51.9m management buyout has hit a hurdle as shareholders failed to give their supp...

Premier’s ongoing £51.9m management buyout has hit a hurdle as shareholders failed to give their support for the proposed deal. By the first deadline of 10 August, only 40.47% of shareholders had voted to accept it. The final offer deadline has now been extended until 24 August to give Premier’s management more time to convince their shareholders to agree to the deal. Premier’s management team is bidding for the business through Harvey Bidco, in conjunction with private equity firm Electra Partners.