(Alliance News) - Huntsworth PLC on Friday said its shares will be delisted from the main market of the London Stock Exchange following the approval of its takeover by the High Court of Justice in England and Wales.
The healthcare and communications company said that following the approval, Chair David Lowden and directors Andrew Boland, Nicola Dulieu and Patricia Billingham have stepped down effective immediately.
Back in March, the Huntsworth agreed to a GBP400 million takeover by CD&R Artemis UK Bidco Ltd, an entity fronted by New York-based Clayton Dubilier & Rice LLP.
At the time, Huntsworth Chief Executive Paul Taaffe said: "Whilst we believe that Huntsworth is strongly positioned as an independent listed company, the all-cash offer from CD&R represents a compelling opportunity for shareholders to realise an attractive cash value in respect of their shares."
By Ife Taiwo; ifetaiwo@alliancenews.com
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