LONDON (Alliance News) - Beale PLC and English Rose Enterprises Ltd said Friday that English Rose's takeover offer has been declared unconditional in all respects.
In January, the two companies announced that they had reached agreement on a discounted cash offer for Beale which values the department store company at GBP1.2 million, a culmination of a long-running battle with shareholder Andrew Perloff, who is behind English Rose.
Under the terms of the deal, Beale shareholders will get 6 pence per share in cash.
Shares in Beale are untraded Friday, it last closed at 6.20 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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