Summary
PRIVATE equity firm Cinven is getting cold feet about bidding for retail chain WH Smith, which has a huge pension liability. Smith fell 5p to 323p as hopes of a bidding war dissipated.
Rival bidder Permira is still pressing ahead with its Pounds 940m takeover plans, but is considering a cut in its 375p per share proposal because of the pension deficit. City sources say Cinven is not keen and is likely to walk away altogether.See the full content of this document
Extract
Smith Slumps On Bid Fears
Permira and Cinven have been ...
See the full content of this document
Sponsored links
