Home Business News Carpetright mulls over £15m takeover offer

Carpetright mulls over £15m takeover offer

by LLB Reporter
31st Oct 19 10:17 am

Carpetright has been offered £15.2m by their largest shareholder Meditor valuing the shares at 5p each below the current value.

Shares plummeted by 50% to 4.3p on Thursday however, on Wednesday the shares closed at 9p valuing the company at £27.6m.

However, the board of directors said the company will need around £80m to repay debts and the ongoing working capital.

Poker player Talal Shakerchi who owns Meditor holds around 30% in Carpetright.

Bob Ivell, chairman of Carpetright said, “Shareholders will be aware that we have been engaged in comprehensive refinancing discussions to replace existing facilities which expire at the end of this calendar year.

Adding, “The possible offer being announced today would put in place a new financing structure for Carpetright which would enable us to continue our recovery and make necessary investments in improving our business.”

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