FDM gets 120p share management offer

4th Jun 2009 08:05

IT services business FDM Group said it is currently in discussions with its management team, which may lead to an offer at 120p per share in cash. The management team comprises of all the senior directors including non-executive chairman Ivan Martin, chief executive Rod Flavell and chief financial officer David Templeman.Any offer forthcoming will be funded solely by funds managed and advised by Inflexion Private Equity Partners, the management team's selected funding partner. An independent committee of the board of FDM comprising Karl Monaghan, the sole Independent Director, will evaluate the possible offer and has granted the management and Inflexion permission to begin due diligence.There is no certainty that an offer will be forthcoming.