John Walters chief executive of the Brooks Service Group and finance director Patrick Mulcahy have made an offer to buy the whole share capital of the company. The bid, which is backed by a venture capital company, offers £2.00 per share.
John Walters said that if the offer was accepted shareholders would be able to realise the cash value of their investment in Brooks at a price which represented a good premium over the pre-offer rate.
If the deal went ahead, it would relieve Brooks of the financial, managerial and regulatory burden of being a listed company. It would enhance Brooks' ability to respond to the opportunities and needs of the market in a way that might not be possible for a small company subject to the constrictions of listing.
The deal would allow Brooks to access sources of capital which were not currently open to it.
