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The boards of LMP Bidco and Charles Taylor are pleased to announce that they have reached agreement on the terms of a recommended cash offer for the entire issued and to be issued share capital of Charles Taylor by LMP Bidco.
Under the terms of the Offer, each Charles Taylor Shareholder at the Scheme Record Time will be entitled to receive 315 pence in cash for each Charles Taylor Share held.
The Offer Price represents a premium of approximately 34% to the Closing Price per Charles Taylor Share of 235 pence on 18 September 2019.
Commenting on the Offer, David Marock, Group CEO of Charles Taylor, said:
'I am proud of what Charles Taylor has achieved over many years for its clients, partners, employees and shareholders. These achievements have been founded on its people, innovation and commitment to excellent client service.'
'I am confident that this acquisition by Lovell Minnick, a highly regarded investor with experience in our markets, will provide Charles Taylor with the opportunity to continue to deliver on its existing growth strategy. They understand the foundations and strengths of our group and we welcome their commitment to working with the management team to drive the business forward.'
At 8:04am: (LON:CTR) Charles Taylor PLC share price was +82.5p at 317.5p