Filta Group Holdings PLC - Rugby, England-based provider of cooking oil filtration and fryer management services - Franchise Brands PLC says acceptances of its takeover offer remain at 82%. The all-share deal, which values Filta around GBP50 million, was agreed last month. Filta share holders will receive 1.157 Franchise Brands shares for each Filta share, worth 170.7 pence at the time the offer was made. The offer remains open until April 19, but the acceptance condition of 75% already had been met when the deal was first announced. Franchise Brands says Filta shares will be cancelled from AIM on March 24, while 27.7 million new Franchise Brands shares issued to Filta shareholders will start trading on AIM this Thursday.
Filta current stock price: 160.00p, up 2.6% on Wednesday
12-month change: up 35%
Franchise Brands current stock price: 149.44p, down 0.4% on Wednesday
12-month change: up 22%
By Tom Waite; thomaslwaite@alliancenews.com
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Franchise Brands (FRAN)