Pochin's first reported a takeover approach from its
Nicholson is the grandson of the company's founder Cedric Pochin. He is supported by other family members who are also shareholders. Together, the family members are known as the
Under the terms of the deal, Pochin's shareholders will be entitled to receive a cash consideration of
The offer prices represents a premium of around 7.1% to the closing price of
The offer already has received the backing of 78.2% of Pochin's shareholders.
The company also outlined plans to sell its Midpoint industrial park near Middlewich,
Commenting on the deal, Nicholson said: "The completion of the offer and the sale of the Midpoint Portfolio will put Pochin's on a more secure financial footing, better positioned to take advantage of improving market conditions."
Pochin's shares were quoted up 2.4% at
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