Journey Group could be swallowed by Harwood vehicle

4th Oct 2016 14:32

(ShareCast News) - Jaguar Holdings and Journey Group announced on Tuesday that they are in discussions with regard to a possible offer to be made by Jaguar for the entire issued and to be issued share capital of Journey.The announcement said it is expected that the possible offer will be made by way of a contractual offer under the code, with a 50.1% acceptance condition.Jaguar Holdings is a private limited company formed by Harwood Capital, on behalf of the Harwood Funds, in order to make the possible offer.The price under consideration is 240p in cash per Journey Share, and the announcement said there is no intention for Jaguar Holdings to make an unlisted share alternative available as part of the possible offer."These discussions, and any possible offer, are taking place with the consent of the Takeover Panel, who have also consented to the release of this announcement," the announcement read."This announcement does not amount to a firm intention to make an offer under Rule 2.7 of the Code and there can be no certainty that an offer for Journey Group will be made, nor as to the terms on which any such offer will be made."